 "Even though the equity market was opened up for foreign investors immediately after the early 1990s, the norms for foreign investment in debt were released in 1995 and in 1997, Rs 29 crore trickled in")
The month of May has traditionally been a volatile period for Indian equities, especially in election years. In the last 10 years (since 2008), the benchmark indices, the S&P BSE Sensex and the Nifty50, have gained seven out of 10 times, with the outcome of the election acting as a key driver to the market movement.
In 2009, the markets had sky-rocketed 28 per cent after the United Progressive Alliance (UPA) emerged victorious on the back of an unanticipated rise in the Congress’ seat tally. They, however, plunged more than 16 per cent after the UPA came to power with
