Time for rest! - IIFL

The indices have a tendency of astonishing the investors. The rise on Thursday may be welcome but it was unconvincing. Little wonder we may have some correction at open itself today. Market participants may choose to stay on the sidelines given the reputation that October has of being a Red month most of the years.

The opening is set to be a weak to flat start. Data to be watched for would be Services PMI, Composite PMI for September, by HSBC. The RBI Governor Dr. Raghuram Rajan and all deputy governors will brief the media after a central board meeting post market hours.

Global cues are weak. There are not many positive news to boast about which could bring about a change in sentiment soon. Asian markets are in the red. The U.S. budget standoff continues. The next question is whether the US borrowing limit could get breached later this month.

Source : Equity Bulls

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