After a subdued October and a tumultuous November, the bulls have something to cheer about. The Indian market has bounced back and looks like it has enough spirit left in it to go farther. For a change, the daily dose of news on various scams is likely to be buried by the positive global vibes.
So, it’s a no-brainer that India will witness a gap-up opening. Hopefully, the external scenario will remain bright to enable us to finish higher.
The global turnaround has been sparked by strong manufacturing PMI reports. US stocks galloped following encouraging reports on private payrolls, auto sales and productivity.
Concerns over the eurozone debt crisis also seem to be ebbing following positive comments from the ECB chief. It is expected to leave rates steady at today’s meeting. A successful sale of government debt by Portugal also helped lift some of the gloom.
But, crude oil at $86 a barrel is a cause for concern so is the overhang of tension between the two Koreas.
