Sensex breached 15,000 level, but as expected it didn’t lead to continue the winning streak. Markets consolidated in the last two sessions of the week, closing at 15168.
Inflation rate has crossed 12%. The wholesale price index showed 12.01% for the week ended July 26th. It’s the highest value since May 1994. Fuel, power, light and lubricants rose 0.2 percent due to higher prices of furnace oil. It’s expected to come down little bit for the next week.
Crude oil spot prices came down below $120 a barrel. On expectations of slow down in the consumption of fuel by US the prices have come down. Earlier the three day losing streak had come to an end after Turkey announced that a pipeline carrying crude to the Mediterranean from Azerbaijan may remain shut for two weeks following an explosion on August 5. But again it was trading at $116 a barrel on Friday in the morning session.
As a whole the global market scenario hasn’t changed much. Markets may not sustain their recent highs due to profit booking in the coming week. But all the bad factors have almost been accounted. It would be a buying opportunity again if markets fall out again.
Sathish Emmadi
Sathish Emmadi is a co-founder & editor at Lastbull.com. He is presently working in IT for one of the world’s top mutual fund companies. Handled multiple projects in BFSI (Banking,Financial Services and Insurance) domain. An Engineering Graduate from NITW.
Related posts:
- Indian Markets Next week August 4th 2008
- Indian Markets Next week July 21st 2008
- Indian Markets Next week July 28th 2008
- Indian Markets(SENSEX NIFTY) Next week July 7th 2008
- Indian Markets Next week July 14th 2008
Loading ...