The 484-point surge in BSE benchmark Sensex on Wednesday coincided with the triumph of Indian cricket team against Australia -- thus corroborating claims of a correlation between trends in stock markets and cricket field.
Though it was purely a coincidence, many analysts believe there are some sentimental relationships between cricket and Dalal Street.
A recent research by Monash University in Australia showed that when India's cricket team loses one-day matches, stock markets take a beating.
Research by economists Russell Smyth and Vinod Mishra of Monash University suggested that the performance of the Indian cricket team in one-day matches can significantly impact the fortunes of the Indian stock market.
In the second test match, Tendulkar (53 not out) added a half century to his first innings double ton and capitalised on the foundation laid by debutant Cheteshwar Pujara (72) as India easily surpassed the target of 207 in the final session of the last day.
After trading in a narrow trading range for the past 7 days, the bulls were back with a bang on Dalal Street on Wednesday.
The BSE Sensex soared over 450 points and the NSE Nifty rose by over 140 points, among the biggest single-day gains in recent memor.
Source: Rediff
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