Will the market rally last?
Hard to tell, for although these have bounced back from recent lows, markets might not be out of the woods yet, say analysts
A few sessions, they say, is a long time for the markets. Barely a fortnight earlier, it was all gloom and doom, with fear of the US Federal Reserve’s tapering of its $85 billion monthly bond buying programme, amid heightened geopolitical tensions in West Asia that sent crude oil prices flaring.
It was a double whammy for the Indian markets, also reeling under a sliding rupee and a widening current account deficit (CAD).
Come September, suddenly everything started falling in place. While concerns and war clouds have ebbed, a change of guard at the Reserve Bank of India (RBI) which saw a slew of measures announced to stem the rupee’s fall lifted overall sentiment. The trade deficit declined 23 per cent in August to $10.9 billion from $14.2 billion in the corresponding month last year and down 11 per cent month-on-month. August also saw car sales surge for the first time in 10 months. On its part, the government got a few key Bills passed in the monsoon session of Parliament.
Since August 21 when the benchmark indices hit their respective lows of 17,906 (S&P BSE Sensex) and 5,302.55 (CNX Nifty), the Indian markets have risen nearly 12 per cent.
Point out Rakesh Arora and Arjun Bhattacharya of Macquarie Research: “The sharp bounceback in the (Indian) market is akin to the one after P Chidambaram took over as finance minister.”
While the US markets were up on positive macro data, China’s markets also witnessed decent returns on improved manufacturing activity.
For more visit: Business Standard
Search Our Archives
- Stocks Trading above their 50 day moving average - DMA In Stock Research
- Download free Ebooks based on Technical Analysis In Personal Training
- TOP 100 Stocks with the Highest P/E as on July 14th, 2013 In Stock Research
- TOP 100 Stocks with the Lowest P/E as on July 14th, 2013 In Stock Research
- Charting Pathsala - Your guide to Techincals In Technical Analysis
- zia Hiii CBSIR WHAT TARGET FOR BHEL TOMMOR...In Intraday calls for 27-07-16
- sudip dey Respected sir, your view on ALEMBIC...In Intraday calls for 27-07-16
- ramaswany SIR IAM HOLDING CASH Dr Reddys Labora...In Intraday calls for 27-07-16
- Smita Hi CB, I bought bank nifty July 19...In Intraday calls for 27-07-16
- kumar Hi CB, Good evening. Hope you are d...In Intraday calls for 27-07-16
- Tom Hi CB Sir, Tomorrow, Can i buy dr rea...In Intraday calls for 27-07-16
- Prathmesh CB sir Bhushan Steel is still strong t...In Intraday calls for 27-07-16
- AJ DHFL looks like running out of steam.....In Intraday calls for 27-07-16
- zia Hii CBSIR WHAT TARGET U SEE TOMORROW F...In Intraday calls for 27-07-16
- jyoti rout SELL HINDALCO for target 131-130 intra...In Intraday calls for 27-07-16
- jyoti rout Sell BANKNIFTY FUT for target18800-185...In Intraday calls for 27-07-16
- Mani SIR ,JAIN IRRIGATION TARGET?...In Intraday calls for 27-07-16
- Sumit Hi CB Sir, am holding Century Plywood@...In Intraday calls for 27-07-16