ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Much to Cheer Stock Markets

PREDICTABLY enough, the stock markets which had accorded a very enthusiastic welcome to the ruling party's landslide victory at the polls by bidding up equity prices in hectic kerb deals during the Christmas holidays ushered in the New Year on a highly encouraging note. During the three trading sessions in the first week of the month, Dalai Street took a big leap forward, moving well beyond its previous all-time high recorded on December 21, the last trading day for 1984. The recent performance of the other markets has not been very different though they are still below their previous all-time highs. The recent strong upsurge in equity prices which has occurred without any noticeable support from institutional investors cannot be dismissed as the doing of some big speculators. For the rise in a good many cash scrips has been no less impressive.

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