February 21, 2008
Key indices fell in line with the trend in global markets, as investorsfeared that more writedowns from US banks would curb earningsgrowth. Crude oil eased past the USD100 per barrel mark, raisingconcerns about the outlook for consumer spending.After yesterday’s sudden fall, the bulls would pray for at least a smallbounce in the opening trades on the back of recovery in the Asianmarkets. However, given the uncertainty prevailing in the globalmarkets and chances of US economy slipping into a recession growingby the day, one will have to keep oneself abreast with the global events.In short, the outlook is cloudy and it is difficult to take a call on theoverall market. One should look to being stock specific rather than getcarried away by focusing too much on the indices. There aren't anytriggers to lift the market, except for the annual budget.
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