The Indian market is not yet over the shock of Narendra Modi’s election as Prime Minister, but there are signs that he might be gaining some momentum.
The market is still looking at the next few months as markets prepare for what is likely to be the biggest rally in India’s history, with the country still a few months away from the end of the year.
The markets are expected to rally sharply as India marks its Independence Day on July 4, but the next big event will be the first day of the new calendar year on September 1.
That will be a big boost for Modi as it will bring a new calendar, a new year and a new government.
There are some who think the market has a long way to go before Modi becomes a serious contender to be Prime Minister.
There are also many who believe the market is on track to hit a record high.
We are not sure if there is a strong groundswell of confidence in the markets right now.
If there is, we would be in a better position to react to any kind of event.