Market analysts want Congress to come back to power for stability

April 23rd, 2009 - 7:10 pm ICT by ANI  

By Anand Shrivastava

Mumbai, Apr 23 (ANI): The market analysts have expressed their hope that the present government should come back to power for a stable market in future as the country gears up for the last three phases of general elections.

According to them, if the present alliance led by the Congress comes back to power, the market scenario might have a positive impact.

However these experts also believe that the change may be temporary.

“If Congress reaches anywhere up to more than 280 seats in coalition government, then definitely market looks good in that terms. But that should be temporary in nature. Because if you see, the left parties, they will support the government.” said Sharad Gadodia, Market Expert and Managing Director of SSG Broking Limited.

“Somewhere in the minds of the people, they feel that when left party comes into coalition government, they will again try to put their hands into breaking the development system of the country. Now we have to see what is the coalition, how strong Congress is and whoever comes, what is the amount of vote they are getting,” explained Gadodia.

Meanwhile, concerned over the future market conditions, the investors are eyeing upon the final results of elections.

“In Indian front, the companies undoubtedly are not doing well but the reports (quarterly) are not so bad also. So looking forward, I think, after the elections whosoever forms the government, accordingly market slowly will stabilize and will react according to the domestic and global factor thereon,” said Siddharth Kuawala, an investor.

The investors are also anxious over the rising of the “Third Front” who they feel are mere opportunists.

The second phase of elections ended on Thursday. The remaining phases are scheduled on April 30, May 7 and 13.

The outcome of the polls will be known on May 16. (ANI)

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