Be it careers, market or rockets, the trick remains the same. The first Indian rocket to be powered by a totally indigenous cryogenic engine will blast off today. Hopefully, it will be mark another major milestone for ISRO and India. Talking of milestones, the S&P 500 and Nasdaq crossed 1200 and 2500, respectively. US shares had their best performance in nearly six weeks after Intel and JP Morgan outperformed.
The domestic market engine is set to chug along well, powered by global cues. The positive undertone on Wall Street also rubbed off on Europe. Asian markets are mostly up. Markets in Shanghai are up marginally despite China clocking a better-than-anticipated 11.9% GDP growth in Q1. May be, investors fear a fresh monetary tightening response from the Chinese central bank!
Another hike in CRR and short-term rates is also on the cards by the RBI later this month. Inflation for March will be out today and is most likely to have crossed 10%. This may lead to a temporary blip in sentiment but on the whole things should be fine.
