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
- CB Hi sa, Good morning. .Wish you the sam...In Intraday calls for 22-10-14
- sa Good Morning CB sir happy Diwali to u ...In Intraday calls for 22-10-14
- CB Hi Sandy Arora, there are many ways on...In Support & Resistance Levels Of Nifty 50 Stocks as on 02-10-14
- CB Hi Maity, it can test 970 levels. tomo...In Intraday calls for 22-10-14
- Maity what is the target of Reliance Industr...In Intraday calls for 22-10-14
- CB Hi SEBY, Wish you the same.. Happy Diw...In Intraday calls for 22-10-14
- SEBY happy diwali for all CB sir, all my ...In Intraday calls for 22-10-14
- CB Hi LOKESH, Wish you the same.. Happy D...In Intraday calls for 22-10-14
- CB Hi sayan, yes. Hi rajasekar, most ...In Intraday calls for 22-10-14
- LOKESH Same to you cb sir and trade warrior.....In Intraday calls for 22-10-14