The Bull run is on! – seems to be a trending phrase these days for the Indians.
Sensex – Optimism at its Best!
At first, it was a dramatic surge in the bellwether stock index – Sensex from 8000 points to 20000 points – almost kissing the 2008 peak levels. Moreover, not many could have predicted for such astounding rebound in the equity markets from the recessionary lows at such a breakneck pace.
In less than two years, the 30-share index has soared past 20000-point level propelled by global recovery and domestic factors like robust economic expansion and decent corporate earnings growth.
Interestingly, a closer inspection into the stocks that have out-performed from the list of 30-share Sensex index indicates that specific companies such as Tata Motors, Hindalco and Tata Steel, which were leveraged with high-debt levels during the recessionary phase, were met with punishment from the shareholders on account of indulging into risky inorganic acquisitions.
However, as soon as the clouds of recession disappeared, the investor community had no choice but to latch on to the same set of leveraged counters – which held large inventory and production capacity to cater to the rush of demand spurred by refreshing upturn in the consumption cycle.
Gold – The Shining Story!
Next in line of asset class enjoying the bull run is Gold. The precious yellow metal has been under constant news after hitting an all-time high of Rs.19617 on Wednesday.
Moreover, the shining metal reached a fresh record high of $1350 an ounce in the international markets. This bullish sentiment in the gold prices over the last few days was propelled by the announcement from the government of Vietnam to loosen import restrictions, potentially reversing a more than 2-year ban, on gold to curb rising prices.
Back home, the period of Shradh, an inauspicious time for buying gold, ended on Wednesday. Further, the local jewellers are of the opinion that the general upbeat mood in the ensuing festive season will light up sales counters in the coming weeks.
Commonwealth Games – A New Bull Run!
On a lighter note, at a time when Gold prices have been sky-rocketing at its life-time highs, how can Indian athletes remain away from the lure of winning the most prestigious medal? LoL
Hold your breath! Indians have won 16 Gold medals for the country. The bull run to the tally was flagged by Prasanta Karmarkar (50m freestyle) to become the first Indian to win a medal in Commonwealth Games (CWG) para-aquatics event.
As on 5th day of CWG, Indian athletes have already won 16 gold medals (10M + 5W), 11 silver medals (7M + 4W) and 9 bronze medals (6M + 3W). This sums up the tally to a total of 36 medals, placing India at a respected 2nd position trailing only to Australia’s tally of 69 medals.
A matter of pride, indeed!
Now, good news! In latest, Ashish Kumar from Allahabad created history in Indian gymnastics by grabbing the first bronze in CWG today – he scored an impressive 14.475 points in the floor exercise final to snatch the prized medal. This is country’s first medal since the beginning of Commonwealth Games in 1930 in Gymnastics, a sport in which the nation lagged way behind till today. There was another first as well – For the first time in history we also grabbed a medal in Swimming. Indian Para-Swimmer Prasanta Karmakar won a bronze medal in the 50m freestyle at the S P Mukherjee
Will the Indian saga of bull run continue in CWG for some more days?