Unpredictable market – Ignorance was bliss! - IIFL

The market by its nature is unpredictable. For a change it chose to ignore the weakening rupee which worked up all the powers that be. So we live in a situation where India is battling a heady cocktail of trinity triple trilemma - currency depreciation, a ratings downgrade on the economic front and now geopolitical troubles too.

The outlook is a positive start. Thereafter, the indices could swing either way given the host of factors the market has to contend with.

Finance Minister P Chidambaram, in a bid to calm nerves after INR touched Rs.65.56/$, said the currency is undervalued and has overshot appropriate levels. He, lamented that there is no need for 'excessive and unwarranted pessimism.'

Meanwhile, with disruptions in Parliament to block the passage of food security bill, reports indicate that the Monsoon session of Parliament may be extended till September 4.

Source : Equity Bulls

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