It was indeed a bad day for the market as the Nifty slipped 1% to close at 5340, as global markets failed to rally post the LTRO-II as was expected.
The market started strong today, but closed on a tepid note below 5400. It was ONGC and Reliance, the two big oil stocks that bailed the index out today, says Udayan Mukherjee, managing editor, CNBC-TV18.
LTRO-II came in above expectations at 530 billion euro today. Bruno Verstrate, CEO of Lakefield Partners spoke to CNBC-TV18 about his take on the matter. Check out his comments.
All attention is on the second LTRO expected from the European banks that will bring with it a tide of fresh liquidity into the system. Trevor Williams, chief economist, Lloyds TSB spoke to CNBC-TV18 about his expectations.
UR Bhat, the managing director of Dalton Capital Advisors tells CNBC-TV18 there are strong reasons for the market to see a correction and is at completely overbought levels.