Will weak global cues peg Indian markets back?

Published on Tue, Nov 28, 2006 at 09:55 |  Source : Moneycontrol.com

Updated at Thu, Nov 30, 2006 at 11:06  

Like this story, share it with millions of investors on M3
0
0
Share on Tumblr
Udayan Mukherjee, Stcoks Editor, CNBC-TV18

Excerpts from Bazaar on CNBC-TV18 Watch the full show ยป

ALSO READ

While the week started well, this morning, it is not quite sunny and rosy because global markets are under pressure. The US sold off overnight and it did sell off quite sharply. One can witness those cracks - 2.2% fall on the Nasdaq, and Wal-Mart is in the news once again for the wrong reasons this time.

Yesterday, we kept on talking about Wal-Mart and today it has come back with an ugly face, which is why the US markets were under such a lot of pressure. Asia is not looking too good.

So that is the dominant theme that the markets might react to this morning - on how global markets could peg us back. It is safe to assume that we will see a little bit of red in the screen in line with what is happening with global financial markets early this morning at least.

Markets are just getting into settlement, the series has been quite heavy and at this time, when people are engaged with rollovers to get a big hit from the global markets, it is not what you want to see. But markets don't always pan out the way you want them to. 

So we will see a little bit of red on the screen, now whether this has a big cascading effect because of the positions, and goes down sharply or we get off with one bad day, is something one needs to analyse. But one should watch out for external shocks because internally we seem to be pretty okay and nothing will change in a hurry. 

The technicals of the market could change though because of external shocks. This morning, while it's too early to call it a big external shock, the day will probably pass in a subdued kind of a sentiment. Hopefully, things will not get worse globally. But this morning cannot be too good, we will probably see at least 100 points down on opening bell. 

Contd on Pg 2...

  

More on Moneycontrol

Trending News

Business News

6 ways to backup mobile data
Forget the IIP: there's free cash oozing out of every pore "Forget the IIP: there's free cash oozing out of every pore "

DLF Says Macro Environment Unfavourable W/High Comm & Labour Inflation

The latest earning numbers FIRST on CNBC-TV18
Videos

Feb 10 2012, 21:39

Tulsian buys steel stocks; negative on sugar, ADAG

- in MARKET OUTLOOK

Feb 10 2012, 21:39

Truck demand sluggish; margins down 80bps: Shriram Trans

- in Results Boardroom

Interviews

Feb 10 2012, 15:43 | Source: CNBC-TV18

Growth in margins sustainable going forward: Shasun Pharma  

Feb 10 2012, 15:35 | Source: CNBC-TV18

Expect Q4 GRMs to be similar to Q3: BPCL  

Subscribe to

Moneycontrol Newsletters

Moneycontrol.com offers you a choice of various sectoral and other newsletters for FREE!

Follow moneycontrol.com