Today,the market opened strong after a three-day slide. We just hope there are no post-lunch hiccups as has been the case in recent times. This week’s fall has come on lower volume and turnover. Technical and derivative indicators do suggest some signs of fatigue after a seven-month rally. However, the overall trend remains upbeat. What we are witnessing is, hopefully, just a brief period of consolidation.
The Dow finished up more than 130 points and the Nasdaq staged a late turnaround. Asian markets have gained 1-2%.
Inflation has started inching higher though the stimulus steps may not be reversed anytime soon. Interest rates will be left unchanged next week though the RBI could alter its tone from dovish to a little hawkish.
We wouldn’t want to spoil the party for the Congress. Despite its back-to-back landslide wins (LS and Assembly), one wonders if reforms will get the necessary attention. With opposition in dire straits, we hope the Congress doesn’t get complacent. For now though, the Grand Old Party is firmly in driver’s seat. Wish you all safe and happy trading.
The Dow finished up more than 130 points and the Nasdaq staged a late turnaround. Asian markets have gained 1-2%.
Inflation has started inching higher though the stimulus steps may not be reversed anytime soon. Interest rates will be left unchanged next week though the RBI could alter its tone from dovish to a little hawkish.
We wouldn’t want to spoil the party for the Congress. Despite its back-to-back landslide wins (LS and Assembly), one wonders if reforms will get the necessary attention. With opposition in dire straits, we hope the Congress doesn’t get complacent. For now though, the Grand Old Party is firmly in driver’s seat. Wish you all safe and happy trading.
