19 May,2009 07:56 AM IST | | Anil Patel
It's a 21-tonne gun salute to the UPA. Five years ago, the share market witnessed its first black Monday on May 17, 2004. Yesterday it turned gold.u00a0 Within 55 seconds, the share market shot up by a whopping 2,111 points and closed at 14,284.
In that one day, the holdings of investors increased by Rs 5.66 lakh crore to Rs 43.73 lakh crore.
For the first time in the history of the stock market, the market saw a 'circuit breaker' due to the rise. Better yet, the markets are expected to rise another 500-700 points and even if the Sensex touches 15,000 points, it won't be a surprise.
Crash
Five years ago, on May 17, 2004, UPA's victory had sent the stock market crashing. Within 22 minutes, investors lost Rs 1.25 lakh crore. The Sensex fell to 842 points and closed at 4,505 and the market was shut for two hours. Protestorsu00a0 had taken to the streets shouting slogans like Sonia hai hai. On an average, 15 per cent investors in the stock market indulge in naked sale.
