INR 82000 Crores as target and none the wiser for it, the FM has his task cut out in the remaining Fiscal, with Governor Rajan having been approved by the markets with much fanfare after he expectedly submitted to inflation being under control we would be ready to slide down from the 8% repo rate.
Though of course, we miss going thru our specific brand of analyses, we will not be presenting a more detailed article on why Guv Rajan would not be presenting a rate cut and meanwhile also not able to educate the market sentiment on how the CEA Arvind Subramaniam will be effecting his first seminal recommendations on
Markets will of course, still look to auto sales throughout the week esp to decide the fate of interest rate sensitives again positively till the RBI Governor brings down the house with another pass on the “rate cut” being nudged by the markets but with the Rupee likely to cross 63 in orbit within this
It looks like, there will be very little pf price discovery in these markets if we keep having these amplified news driven reactions like the one yesterday with ITC back at rally start levels and unlikely to be a short for anything more than 1-2 hours in an earlier edition of the markets from 2004
Call auction bidding has definitely been good for the markets, the 15 nminute pre-open allowing investors, brokers and analysts considerable space in gauging market direction all day esp in the liquid end of the market, i.e. the large cap stocks. Banknifty is still riding the wave of good work in the sector with subdued response
Our morning report was something we wanted to title India is back on the high horse again with the index at 8500, and as you can see that sentiment inside has indeed keeled over, making wary investors challenged at every new level. One wonders ghowever if there will be a correction, and in the normal
As was apparent last week, markets are looking like they cannot handle the new levels again as at 8350, there is not enough results from the recovery in yet to brag about and thus till auto sales actually catch up even Banks could correct just a wee bit though a new range expected 4-6 weeks