Today,we expect a gap-down opening on the bourses, given the extremely weak cues coming from international financial markets. Dow Jones fell overnight after its economy grew less than expected in the second quarter even as unemployment rose. Thursday’s rangebound movement indicates that the market is apprehensive over the near-term direction.
Aggressive buying should be avoided for a while. The undertone is still bearish. Rising interest rates, higher inflation and concern on the US economy remain the areas of concern.
Aggressive buying should be avoided for a while. The undertone is still bearish. Rising interest rates, higher inflation and concern on the US economy remain the areas of concern.
