We expect the market to open higher mainly due to firm global trend. As always, there is no clarity as to whether the early gains would sustain. Market participants could well be forgiven for switching interest to today’s IPL auction as some top names in the game will go under the hammer. As far as the market is concerned, it’s anybody’s guess as to who will go under the hammer – bulls or bears. This week has been extremely lackluster with the key indices being stuck in a sideways, rangebound trend. Volume and turnover are also down.
The market could exhibit a dull trend for a while till a big announcement is made, locally or globally. In this context, today’s monthly jobs data in the US and next week’s announcement of Obama regime’s stimulus plan will be crucial. But, any upside from these events could be short-lived, as things remain precarious. Corporate commentary continues to be grim. There are still concerns on western banks’ financial health.
If you are a long-term investor, stepping in at this point could be a good move. One should buy on the way down, rather than on the way back up. And, it is near-impossible to know exactly when the bottom is going to be hit. If you have the stomach and the money, then investing at these levels and holding out through the period of bounce back will translate into decent gains.
The market could exhibit a dull trend for a while till a big announcement is made, locally or globally. In this context, today’s monthly jobs data in the US and next week’s announcement of Obama regime’s stimulus plan will be crucial. But, any upside from these events could be short-lived, as things remain precarious. Corporate commentary continues to be grim. There are still concerns on western banks’ financial health.
If you are a long-term investor, stepping in at this point could be a good move. One should buy on the way down, rather than on the way back up. And, it is near-impossible to know exactly when the bottom is going to be hit. If you have the stomach and the money, then investing at these levels and holding out through the period of bounce back will translate into decent gains.
