Indian
markets succumbed to a late selloff on Thursday despite positive cues
from overseas markets. The Nifty closed below 4850 on F&O expiry
day. The fall in August F&O series is said to be the worst in three
years.
So
will things improve from here on or are we headed for lower levels on
the key indices? It’s a tough call to make having seen the deep cuts of
August.
FIIs
too don’t seem to be in great mood right now. Monsoon has been okay,
but not completely satisfactory. Then there is the Lokpal Bill impasse
and threat of at least another rate hike from the RBI.
The
start looks to be rather subdued as Asian markets are lacklustre. US
and European stocks suffered a rare bad day this week on Thursday.
Markets are waiting with bated breadth as to what Mr. Bernanke will say
at Friday’s Jackson Hole meet.
