Indian stocks rose more in the first 100 days of Prime Minister Manmohan Singh’s leadership than under any new government since 1991. Investors predict more gains as he opens up the world’s second-fastest growing economy.
The Bombay Stock Exchange’s Sensitive Index climbed 16 percent since Singh started a second term on May 22 as international investors bought $4.9 billion more shares than they sold, data compiled by the bourse show. The advance is the biggest since the 40 percent rally after Prime Minister P.V. Narasimha Rao came to power, and compares with the 8.4 percent increase for the Standard & Poor’s 500 in the first 100 days of U.S. President Barack Obama’s administration.
Investors are optimistic Singh will accelerate road construction, ease limits on foreign ownership of banks and sell stakes in state companies. The economy may grow 9 percent annually in the coming three years, pushing the benchmark index beyond the record high of 21,206.77 reached in January 2008, according to Mirae Asset Financial Group, South Korea’s biggest money manager. The Sensex is 25 percent below that level.
DFM Index Declines Slightly
The DFM General Index spending most of the session in the red zone closed the day at 2,379.49 points on Tuesday 18th June 2013. The index trimmed 3.32 points or 0.14 percent for the session.
QE Index Turned Red as Key Sectors Decline
The Qatar Exchange turned red on Tuesday 18th June 2013. The Index continued stepping its way lower in the red territory, dropping 68.65 points or 0.73 percent it reached at 9,361.05 levels.
Large Cap Drives ADX Index Higher
The ADX General Index stepped up to close the session at 3,659.54 points on Tuesday 18th June 2013, up 16.30 points or 0.44 percent from its previous close.
Among market cap indices only Lar
Qatar Exchange Introduces Bonds for Trading In Its Market
Qatar Exchange today announced the introduction of government bonds issued by the Qatar Central Bank for trading on the exchange, which will commence on Thursday 20th June 2013, in a step that suppor
Land Department wins 'The Best Government Department'
The Government of Dubai Land Department (LD) won a certificate of appreciation for their outstanding contribution as 'The Best Government Department' at the third annual UAE - Korean Economic Partner