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This is a matter of concern for an economy that is already struggling with inflation at 12% and commodity prices still rising. The employment index might particularly prove to have a negative impact on market sentiments at a time when Sensex is trying to pull back.
Moody’s has put a Neutral position on the Indian economy for current investments and India had already be downgraded as the least preferred amongst BRIC nations by Standard and Poor a week back. This is bad news for India, at least for the time being. The short term outlook for brokerages and banks is bearish. Sensex will test 15500 levels and if it breaks those levels with enough volumes, then it may finally be the Bulls’ chance to stampede.
1 comment:
Good observation Rahul. It is a win-loose game always. Check this:http://consumerpsyche.blogspot.com/2008/06/stock-market-explained.html
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