We will get several short-term relief rallies but no medium-term comfort
Last fortnight, we said that the market is now not driven by crude oil prices anymore and this was ominous. It signified that global growth is slowing down. We said that the Indian market is being completely influenced by the US market action for now, since there is still very little confidence in the Indian markets and...
We have turned neutral again but a decisive move is coming
When crude oil prices were around US$107 some time in the middle of March, in its run up to US$147, the Sensex at 16,000. At the time of writing this piece, crude is below US$107 and yet the Sensex is at 14,500. A sharp decline in crude prices (since the middle of July) has caused the Sensex to rise 23% from the bottom but the market...
The market continues to struggle to find a direction
In my previous column (titled ‘Nice While It Lasts’), I had said that while the main indices have run up by 23% on the hope that the government will put through “reforms” and the fall in oil prices will help. At the current stock prices, these factors are somewhat factored in; and, at best, we will get a move back and forth. “Specifically,...
