Egypt protest

Egypt is witnessing chaos, turmoil and major mass protest against Hosni mubarak, the fire of protest has now witnessed across the middle-east where the angry people have come to the streets to join the violent demonstrations against the MUBARAK , it is not merely something which is happening all on a sudden but you may think of  it as a cumulative anger against the mubarak rule which has denied public partcipation FOR a fair and elected DEMOCRATIC RULE for which people can go to any extent,  Mubarak’s recent announcement to fill the key govt posts are indeed a negative indication against a fair democratic institution while people in Egypt want wider participation in establishing a fair democratic govt. As the public uproar has continued to take violent shape many countries have made immediate evacuation plans for their citizens in Egypt. If this protest affects the major middle east countries then it may create global problem as we know that Egypt is the epicenter of Muslim world. This protest has already increased oil price and US crude for the march delivery rose 4% and if the political unrest continue then it will have major impacts in the world markets.
How it will impact India
India though is not a strong ally of Egypt in terms of major trade exchange but still the effects of the unrest is witnessed in Indian stock market which has already going through a sort of bear rally. Rising oil price and food inflation is a concern for the Indian market which has already seen pulling back of more than 5000 crores from the market while it is too early to say that the market will further deteriorate from this level. Indian govt has announced massive infrastructure projects, interest rate cuts may boost market sentiments while there have been major activities toward controlling inflation, adding up these factors Indian market has come down to a point where a buying opportunity has generated for many blue chip stocks which have come down to a lucrative level.
By Dipti Prasad Padhi

By : | Category : Business and Economy| Date : November 10,2011

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