Today,we expect another weak opening for the Indian stocks amid the worldwide gloom. Any possibility of a rally will hinge on a recovery in global markets, even though the Prime Minister has expressed confidence in the Indian economy yet again. Of course, the inflation guessing may again cause some last half an hour swings.
After a day of relief, US stocks got pounded again on Wednesday, as investors feared that the ongoing financial turbulence might lead to more government bailouts and further consolidation among desperate banks and securities firms.
Confidence in the global economy has been shaken as the financial turmoil in the US worsens. Risk aversion has increased. No market or asset class is being spared, as investors' confidence is at an all-time low and plunging further.
