Polls for the 16th loksabha and a couple of states was announced on Wednesday the 5th of March 2014. They would be held on nine dates beginning from the 7th of April and ending on the 12th of May. Counting will begin on 16th May which is a Friday.

The SENSEX hit a lifetime intraday high and closed at one as well on expected lines yesterday. The intraday high was 21,525.14 while the close was virtually at the high at 21,513.87 points. The NIFTY on the other hand failed to make an intraday high but like the SENSEX closed at a life time high. The intraday high made on the NIFTY was 6,406.60 points while the close was 6,401.15 points. The earlier intraday high was made on 9th December when election results to the state assemblies were declared. The high on that day was 6,415.25 while the close was 6,363.90 points.

The benchmark indices are at a lifetime high but there is a big difference between this time and the previous occasions whether it be 2010 or 2008. There is no retail participation, there is no euphoria and the common man or small investor is just not bothered about what’s happening in the market place.

Slowly but surely the markets are now veering around to the fact that there will be stable government and that there would be a change in government as well. Poll alliances are being forged in a number of states and the battle lines are being drawn.

Without commenting as a political commentator I would like to however make one observation and ask readers to react to it which concerns the latest political outfit AAP. Their leader fails to understand that till some time ago it was an NGO and could ask questions from the administration, political parties, government or virtually anybody. Now he is a political party and has lost this right. He needs to migrate from this mind-set at the earliest.

The markets will remain buoyant over the next 8-9 weeks till the final round of voting is over. That evening one will have a spate of exit polls and results forecast. Thereafter markets will move over which way the largest democracy in the world has voted and what form of government its citizens want.

Till then enjoy politics, politicians and events as they unfold.

New Indices – round the corner. Is election dates the trigger?