It’s the season of finding reasons. The answers are hard to come by. There remains lingering unhappiness within the Congress on how the Ramdev issue was handled. The Prime Minister has more or less expressed helplessness again citing there was no other alternatives. Textiles Minister Dayanidhi Maran has dismissed charges that he forced the Aircel founder C Sivasankaran to sell his stake in Aircell to Maxis.
The Indian market found some reason to firm up with crude cooling and some fund nibbling in beaten down scrips especially in the IT and healthcare space. IDR investors of Standard Chartered Plc were in for a rude shock after SEBI issued a circular stating that redemptions in IDR are allowed only if the instruments were infrequently traded. Whatever arbitrage opportunity investors were banking on came to an end, reports stated.
The outlook today is a flat start with investors looking for reasons to get in and get out of counters. Asian stocks have fallen for the fourth day in a row. The US indices also closed in the red with the Dow down 61 points and the Nasdaq shedding over a percent.
