Wednesday, April 25, 2012

The PM and his former boss, the current FM should be sacked after S&P downgrade & poor economic management of Indian Economy
However, I feel that S&P has only put their stamp on to what is obvious and the markets should not fall too much further from here (SENSEX is now down 150 points), as it has already been discounted. Probably the markets have bottomed out today and in future the markets could move up. I think 5180 (Last time, it pulled back from the level of 5180 showing buying interest at lower level) in case of Nifty (Spot) would hold and therefore, traders (this was the call to the Premium/Paid Members some minutes back) can buy MINI_Nifty above 5170, T-5230, SL--5150 (the corresponding SPOT price is 5180).....!!
The BSE Sensex and NSE Nifty plunged around 1% each after the overseas rating agency S&P cut India outlook to negative, citing investment & economic growth slowed and CAD widened. Rating agency expects Indian government to face headwind in implementing policy measure. However, the agency affirmed BBB- rating for India.
Indian bond yields rose, while the rupee and stocks fell after ratings agency Standard & Poor's cut its outlook on the country to "negative" sparking fears it would lead to an actual ratings downgrade.
India's 10-year bond yield rose 4 basis points to 8.63%, while the rupee fell to 52.64 against the dollar from 52.48 before the actio
n.
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