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Stock mkt to stay volatile this week

This article was posted on Sep 25, 2011 and is filed under Market News

Equities are expected to stay volatile because of turbulent global markets and the expiry of derivative contracts for September this week, say experts.

Besides, the depreciating rupee has added to investor woes, especially those who have parked funds in imports-linked sectors.

“We are in a really tough global situation with the US and Europe at the centre of the turbulence,” IIFL Head of Research Amar Ambani said.

“It may take a while before the external conditions improve considerably. Emerging markets like India and China are better placed but cannot remain insulated from the overseas mess,” he added.

Analysts said the short-term trend has definitely turned negative, with weak sentiments being reflected globally in world indices.

The BSE Sensex fell almost 772 points to end the week at 16,162.06, as global sell-off in equities continued amid grim prospects of world economic growth on warnings of a slowing US expansion and persistent eurozone sovereign debt troubles.

“We expect market volatility to continue due to instability in the global market. The market trend will be determined by global cues till debt crisis in US and eurozone is resolved,” Motilal Oswal Securities Associate VP Sr Analyst Parag Doctor said. For more visit: Business Standard

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