Indian markets bounced back after a sharp profit booking session to end the week on a slightly higher note. The upmove was triggered after the UPA won elections in three state assemblies of West Bengal, Assam and Kerala. The sentiment also turned bullish following the defeat of Left-Parties in its bastions of West Bengal and Kerala. Positive cues from European peers also boosted sentiments. But the market closed off earlier highs as the coalition suffered a huge loss in another poll as graft scandals hit government support.
May 13, 2011
Nifty ends near 5550
Indian markets bounced back after a sharp profit booking session to end the week on a slightly higher note. The upmove was triggered after the UPA won elections in three state assemblies of West Bengal, Assam and Kerala. The sentiment also turned bullish following the defeat of Left-Parties in its bastions of West Bengal and Kerala. Positive cues from European peers also boosted sentiments. But the market closed off earlier highs as the coalition suffered a huge loss in another poll as graft scandals hit government support.
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