India's Market & Economic Decisions
Market-wide moves on India's exchanges (NSE and BSE) that come from inside India rather than from a single company: a Reserve Bank of India rate decision, a ruling by the market regulator SEBI, a budget or election surprise, or heavy selling by foreign funds. On those days most Indian shares move together whatever the business does, and the rupee often moves at the same time.
Dated events
- · Sensex crashes after the election result; market-wide circuit breakers halt trading twice
Investors feared economic reforms would suffer under a government supported by left-wing parties. The index fell as much as 16.6% during the day and closed 11.1% lower. - · Election win without left allies; Sensex jumps 17% and trading stops for the day
The ruling Congress party won enough seats to govern without its communist partners. The market rose so fast that trading was suspended for the rest of the session for the first time. - · Government cuts the corporate tax rate; Indian shares have their best day in a decade
The finance minister lowered the base corporate tax rate to 22% from 30%. The Sensex rose 1,921 points in a single session. - · Reserve Bank of India raises rates in a surprise unscheduled meeting; Sensex falls
The central bank lifted the repo rate by 40 basis points to 4.40% between its regular meetings. The Sensex fell more than 1,400 points during the session. - · Election count shows no majority for the ruling party; Sensex falls 5.7%
Results showed the BJP short of a majority on its own. The Sensex closed 4,390 points, or 5.74%, lower.
Assets named in this scenario · 12
Bajaj Finance LimitedBharti Airtel LimitedHDFC Bank LimitedHindustan Unilever LimitedICICI Bank LimitedInfosys LimitedKotak Mahindra Bank LimitedLarsen & Toubro LimitedNational Stock Exchange of India LimitedReliance Industries LimitedState Bank of IndiaTata Consultancy Services Limited
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