The stock market game across the world has become quite simple these days. Global equity markets tend to climb if crude oil falls and vice versa. For a country like India which relies heavily on imports of crude, any sharp correction in oil prices is a big plus.
So, the overnight steep fall in oil prices due to the weakening of Hurricane Gustav coupled with relatively stable Asian markets could help the bulls extend Monday's late rally into today's trade, at least at start of the session. Thereafter, things may turn choppy as investors may not want to take a chance ahead of Wednesday's holiday on account of Ganesh Chaturthi.
So, the overnight steep fall in oil prices due to the weakening of Hurricane Gustav coupled with relatively stable Asian markets could help the bulls extend Monday's late rally into today's trade, at least at start of the session. Thereafter, things may turn choppy as investors may not want to take a chance ahead of Wednesday's holiday on account of Ganesh Chaturthi.
