Indian Markets Next week July 28th 2008

As expected the United Progressive Alliance got through the vote of confidence in the parliament. This news along with some support of global factors boosted the markets to a recent high of around 15,000. But it could not maintain the winning streak on last couple of days of the week on the expectations of further bank write downs in U.S. and profit booking at higher levels.

Inflation for the first time since May eased marginally. The inflation figure for the week ended July 12^th recorded at 11.89 per cent. This slight decrease in inflation came from moderation of some food items like sea fish, imported edible oils and tea.

On Friday July25th oil prices fell sharply dropping at times below $123 for the first time in weeks. Read more

July 26, 2008 | Filed Under Market Analysis | Leave a Comment

Indian Markets Next week July 21st 2008

Manmohan Singh government is going to face vote of confidence on July 22^nd. A today special session of parliament is held on 21^st and 22^nd of July for this. Mostly it will get through the vote of confidence. If it won’t it will affect markets badly.

Markets pulled back sharply in the last two trading sessions in the previous week. Especially badly beaten Bankex outperformed Sensex on those two days. Important resistance levels are crossed. Crude oil for August delivery settled lower at $US128.88 a barrel on the New York Mercantile Exchange. A week ago, Nymex crude touched a record trading high of $US147.27 a barrel, before settling at $US145.08. In the last week, it has fallen by $US16.20, or 11.2 per cent. The short term is looking okay now but medium and long term stories are still dependent on global factors. Read more

July 20, 2008 | Filed Under Market Analysis | Leave a Comment

Indian Markets Next week July 7th 2008

We have seen highly volatile sessions this week because of internal and global factors. Left parties’ threat to withdraw support from the UPA government, on account of the Indo-US nuclear deal, continuous increasing in inflation figures and global factors like crude oil prices and US market recession caused the markets to fall freely for couple of days. There was some relief when left parties had given few days of time to clarify its position on approaching the IAEA for the safeguards agreement. Of course, Samajwadi party is ready to extend its support to Congress led UPA government if Left parties withdraw support. It’s a positive thing for the markets. Read more