Anna Hazare

A Different take on Anna Hazare’s impact on Indian Market

Indian markets opened in the green as India launched its Second Independence Movement. However, the Indian Markets were shocked to see that Social Activist Anna Hazare & Team were arrested and taken to an undisclosed location. Following this, the markets seem to lack lustre & directionless through the day. However, towards the end, as Anna's location was disclosed, the markets took cues from it and recovered some losses.

Banking stocks lost as all the customers went on protest & fast and no customers came to the bank. HDFC lost 2% while ICICI lost about 0.5%

On the other hand, as people were sitting on fast, Jaiprakash & DLF were not able to sell anything & lost more than 6%. Markets seemed to have lost interest as all people were interested in Anna's future and nobody bothered to initiate fresh buys/sells

Jindal Steel, ONGC & Cipla lost on news that Anna was denied permission and their plans to sell steel, oil & medicines to the fasting people like a Single Window Service has been knocked off

TCS n INFY gained as employees took leave n went to support Anna Hazare... It was a major Cost Saving activity of the year for the IT bellethers... However, Wipro lost as employees were asked to stay back & perhaps, they did not work

ITC gained on rumors that people might smoke more during the fast out of hunger, frustration n absence of food

Bharti Airtel went up on speculation that there might be more calls made during the fast... Every 1/2 an hour, the wife will call husband n ask "Aji, khane khaaye kya?" n husband will say, "Arey Bhaagwan, I'm on fast"

Overall, the Anna Hazare issue threw everything out of gear. Even Twitter & FaceBook went out of gear which helped the US & other global markets rise by 1-2% amid analyst expectation that there will be higher ad revenues due to higher page views across the world. On the commodities front, all prices were moving haphazard and no one in Mumbai...