Slowing and snowing! - IIFL

The market appears frozen in a range for some time now. On the macro front, India's economy, according to CSO, is forecast to grow at 5% this fiscal, the lowest in a decade and even lower that the RBI's projection of 5.5%. It will take India some tough decisions and several years before it can think of going back to a growth era of 8 per cent and more, says IMF.

The market is set to open on a weak note. The global cues show no signs of improvement. In fact, even the weather has got a bit worrisome with US north-east residents gearing for a major winter storm that could deliver up to 2ft of snow in areas including New York City and Boston. Major US airlines have canceled 2,933 flights.

The European Central Bank has stated that the euro's strength could hamper an economic recovery. The US indices closed in the red. Weekly initial jobless claims came in at 366,000, down 5,000 from the previous week. The US business productivity dropped 2% in 2012's fourth quarter. Asian stocks are down. Sony Corp hurt sentiment posting an unexpected loss.

Source : Equity Bulls

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