Indian market will improve but not anytime soon: Experts

Moneycontrol Bureau

It was a volatile but range-bound session at the markets. Banks took it on the chin for the second straight day on the back of the State Bank of India (SBI) downgrade on Tuesday.

The Nifty tried to conquer the 4,800 mark but failed and closed at 4,751 down 20 points, while Sensex too closed in red at 157992 down 72 points. Traders are quite nervous to trade in this market and are looking at much lower levels than what we are seeing right now.

As markets continue to be volatile, most of the market experts don't see a deeper cut on Dalal Street from the current levels. Though they expect the lower levels to persist for some time, most of the analysts see market conditions improving in the longer run.

According to S Nagnath president and CIO, DSP BlackRock Investment Managers, it may well be that they go down further in October, rally in November and then there is a drift or range-bound bound movement for next year or two reflecting their low growth expectations as well  as the problems that will take many years to resolve.