After struggling much between marginal plus and minus yesterday the Indian share market closed at Nifty 11.65 and Sensex 6.58 points. Overall it was an awkward volatile movement without consistently settling any where. Right from the days Narendra Modi’s election campaign gained a momentum there was a deep impact of it on the stock market and it continued moving very much in a well settled manner without undue fluctuations but the trend reversed after Modi was declared elected as the Prime Minister of India. The trend was at its worst when he was sworn in along with his ministerial team. To some extent it could be attributed to a usual sort of imbalance in buying and selling of shares disproportionately but it looks surprising why the market failed to settle some where continuously for days together. It may well lead to the conclusion that Modi’s impact on the market dwindled badly for the reasons not quite explicit. If profit booking at a large scale was the reason it was not to last for days together say beyond a day or two. Possibly it was a chance for the share market that coincided with Modi’s upper hand in elections and not any impact of his as such.
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