All throughout the week the market was volatile with negative close on each day. For the full week ended 18th December 2009 the nifty fell 129.60 points to close at 4987.70 on Friday. There is a high speculation that the Reserve Bank may tighten monetary policy and the expectation of CRR hike even in the next week. Also there is a holiday mood around that could further dampen the sentiments.
Moody's Investors Service changed the outlook on the Indian government's Ba2 local currency rating to positive from stable. At the same time, the ceiling on banks' foreign currency deposits has been raised to Ba1 from Ba2 to better reflect the robust external position of India. Also note that the advance tax numbers are showing strength in the economy.
After several months of declines, the country's merchandise exports turned positive in November 2009, logging a growth rate of 18% in dollar terms as compared to the year-ago period.
In the nifty option front there were negative signals as fresh call writing was observed in the 4900 to 5200 strikes. Besides 4800 and 4900 strike puts witnessed fresh addition of OI indicating negative trend.
BSE NSE to increase the trading hours and start at 9am from 4th Jan.
Expect Indian Stock Market to be highly volatile amid quite low volume. Global developments would mostly guide the trend. We believe this is the right time to invest and reap in the New Year i.e. January and budget both Railway & Finance.
Moody's Investors Service changed the outlook on the Indian government's Ba2 local currency rating to positive from stable. At the same time, the ceiling on banks' foreign currency deposits has been raised to Ba1 from Ba2 to better reflect the robust external position of India. Also note that the advance tax numbers are showing strength in the economy.
After several months of declines, the country's merchandise exports turned positive in November 2009, logging a growth rate of 18% in dollar terms as compared to the year-ago period.
In the nifty option front there were negative signals as fresh call writing was observed in the 4900 to 5200 strikes. Besides 4800 and 4900 strike puts witnessed fresh addition of OI indicating negative trend.
BSE NSE to increase the trading hours and start at 9am from 4th Jan.
Expect Indian Stock Market to be highly volatile amid quite low volume. Global developments would mostly guide the trend. We believe this is the right time to invest and reap in the New Year i.e. January and budget both Railway & Finance.
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