Sudden turn of events shock Indian Markets - IIFL

A sudden turn of events has the market in a kind of shock. It is unable to see clearly what lies ahead. To make matters worse, terror has struck Hyderabad killing 13 people and injuring over 80 others. The indices succumbed to selling pressure erasing three days of gains in Nifty. The selling carnage could extend till the 5760 in the near term.

Addressing the joint sitting of Parliament at the start of the Budget Session, President Pranab Mukherjee said that he hoped for a productive Parliament sitting that comes after a tough economic year. The debates in Parliament begin today and will be watched by investors.

The outlook remains weak at start as global cues continue their fall. US indices fell on news of ongoing weakness in Europe, weak economic reports and Wal-Mart warning. Monthly business outlook survey was downbeat. Initial jobless claims rose to 362,000 last week, higher than expected.

Source : Equity Bulls

Keywords