Pri Market Commentary ...

Today,happiness seems to be the resting with the bears for some time. Of course those with handy cash can take little decisions to pick scrips and exit at the first spurt. We hate to start with a grim prediction. The truth is that all signs are pointing to another weak opening and possibly another bad day in office for the bulls.

The US market suffered a big blow overnight amid pessimism about whether the Obama regime will be able to turn things around. Wall Street was shut on Monday when global markets were down. So, we hope that it was just playing catch up.

In Asia, most stock benchmarks have extended recent losses. It’s a no-brainer that Indian stocks will also fall today. One may think that the current sell-off is overdone, but unless the advanced economies stabilise, a sustained rebound is not possible. It’s going to be a long, hard road ahead.