Weakening of investor sentiment following the US rating downgrade is an opportunity for India to attract global capital that is in search for 'safe havens', the Chief Economic Advisor told the Finance Ministry today.
US markets fell by a whopping 6% during trade yesterday on the back of S&P’s downgrade decision. According to Robert Parker, Credit Suisse, the current global market sell off is because of investor fear.
Lalit Thakkar, managing director, Angel Broking said the market is unlikely to go below the levels of 5000-4950. "The G-7 nations are going to be together to see that there is no turmoil in the economies," added Thakkar.
Crude prices fell more than two percent in Asia today, with sentiment hit by Standard & Poor's decision last week to cut Washington's top-notch credit rating for the first time, analysts said.