D-Street sees rally ahead after UPA victory

Tuesday, July 22, 2008 (New Delhi) Dalal Street on Tuesday welcomed the UPA government's win in the confidence vote with marketmen saying that the end of political uncertainty for the time being should boost the market sentiments. "The market is likely to open strong tomorrow and the rally is expected to continue for another day," domestic brokerage house SMC Global's Vice-President Rajesh Jain said after the UPA government won the trust vote today in Parliament. "The positive rally is likely to continue for the next couple of days. The softening crude oil prices had started the rally and the favourable political situation will add further momentum to the surge," brokerage firm Bonanza Portfolio's President (Research) P K Agarwal said. Echoing similar sentiments, Asika Stock Brokers' Research Head Paras Bodhra said: "A rally... [read full story]