It is a favor we did to the investor s and markets holding up for so long, but we have limited means if we have to pay our very obligation we won’t have anything left. a little copious but literally played out by construction companies and NSEL customers as FT(Financial Technologies, India’ s first private exchanges) breaks for the 5th continuous day , falling double digits as cash settlements as expected fell short on the huge physical volumes contracted
Markets are sitting on breaking 5600 levels going down, and we have just been dumped too by academic powers that be as the international universities require academic recommendations and despite a 3.4 on 4 score, i had none. Indian Universities and Indian Financial markets banking and Research have always been a priori important to me so that will perhaps be able to break the fall but as Ph D programs are very selective and recruit only 2-3 candidates per university, it is going to be as tough.
Nonetheless, as I turn away from erstwhile family and friends, at the beginning of a midlife crisis I see India falling all about me and it is not looking good, despite the promise and the much better rate of FDI thence at over $3 Bln twice in a block of four years. April May still had inflows and as we stressed , the foreign investors are not leaving.
Banks can obviously not afford to continue lending at equanimous growth at 15% forever, but even at this break point it does not look ike so anywhere in Asia and so the curtsying benefactors" should in fact leave India off their agenda as shorts would still not pay maybe even in the August series till the end, with the unidirectional trend broken in by the second or third session of next week.
The 18K Sensex and the Indian Hindu rate of growth should have engendered better public investments in infrastructure than the occassional success
The Rupee howeevr has to break to 63 probably and this might well take 4-6 weeks.