Today,we expect a flat to slightly positive start. IIP data will be out today. According to the Commerce Minister, it grew by 7%. This is respectable given the circumstances. Exports too are showing signs of bottoming out. FDI inflows in July were pretty good. Rains in the last phase have been better. The big worry is on the inflation front, and its fallout on interest rates. We’ve come a long way forward in every sense.
Funds flush with cash are offering psychological support at the moment. The fear of being left out is compelling many to step in even at higher levels, lest they under-perform. Since the advance in early March, the markets haven’t had a meaningful correction. Though the overall mood is upbeat, there is some skepticism about the sustainability of the rally. OIL India’s IPO has got subscribed 31 times. US stocks have risen for the past four sessions. A key European index has gained for six straight days. Most markets around the world are trading at a year’s high amid persistent optimism about the prospects for the global economy.
Funds flush with cash are offering psychological support at the moment. The fear of being left out is compelling many to step in even at higher levels, lest they under-perform. Since the advance in early March, the markets haven’t had a meaningful correction. Though the overall mood is upbeat, there is some skepticism about the sustainability of the rally. OIL India’s IPO has got subscribed 31 times. US stocks have risen for the past four sessions. A key European index has gained for six straight days. Most markets around the world are trading at a year’s high amid persistent optimism about the prospects for the global economy.
