Indian market displayed some measure of resilience—the Nifty recovered from a weak start to close flat at 5,258. The Sensex ended marginally in the red. This despite fears that the carefully crafted EU debt would fall apart continued to cast a shadow on global markets.
The Nifty closed absolutely flat at 5,258 the Sensex closed marginally in the red.
Chin Loo of BNP Paribas, in an exclusive interview on CNBC-TV18, says she expects the euro to weaken even further with the announcement of a new legislation in the pipeline. “The legislation being set up requires a potential haircut for the EU debt post 2013,” she says.