Problems
may be aplenty but thankfully world markets appear to have decoupled
from what’s happening in the US. We may see continuation of that trend
today as well. The start is likely to be a positive one, as Asian
markets are all in the green zone. European equities closed mixed with
French stocks the worst hit among the top three markets. The Italian and
Spanish markets were the worst performers in Europe.
The
overall trend in the Indian market will be driven by the RBI action or
perhaps lack of it. The market will be all ears to hints from the
central bank Governor on the future course of action. Over the past few
trading sessions, we have seen non-US markets displaying commendable
resilience in the face of the ongoing drama surrounding the debt deal.
Another
good tiding is decent buying support from institutions. But, the
constant newsflow on the 2G scam is definitely not doing any good to the
sentiment especially with the former telecom minister dragging the
names of the prime minister and former finance minister.
