Best rise in 17 years
On June - 30 - 2009
The BSE Sensex fell 2 percent on Tuesday, but rallied by almost a half during April-June in its biggest quarterly gain in 17 years as investors rode on signs of an economic recovery and hopes for market-friendly policies.
The outlook for the coming quarter will depend upon how much Prime Minister Manmohan Singh’s ruling coalition, re-elected in May with a stronger mandate, lives up to market expectations for reforms such as further opening up the economy to foreigners and stake sales in state companies.
Progress of annual monsoon rains, which provide a lifeline to India’s trillion-dollar economy, the federal budget next Monday and quarterly company results in July should set the trend.
