Except for the Fed news there is not much that December can offer. As traders prepare to go home for December holidays, it would be square positions that they would like to have. The real impact of a crisis as and when the Fed rises rates will be on emerging economy currencies and that will be one time fall on that date as the market has already factored in such a fall. All that remains to sell would be the last hopefuls; others may have or would have rationally planned their exits.
The fall on Mumbai Stock Exchange is on expected lines: there is nothing great about the Indian economy with the bickering politicians holding up reforms. India may try but cannot seem to go beyond its 7 to 7.5 % growth rate despite all the macho talk. Its banks seem to be in a bad shape and market is giving up hope on the ability of banks to cope with stressed assets. India's biggest metro in the South Chennai has been a flood wash out and it is only the private sector that seems to be of utility. The administrative services are nowhere to be seen, forget felt. If this is the type of 'governance efficiency' that one displays, FIIs will and should sell. Speeches do not substitute for diligent hard work. India's leaders have to realize that it is looking south !!!
Time to hold on to one's dollars. With oil plunging, commodity markets will drag down.
Views expressed are without any risk or responsibility. This blog recommends no investment.
The fall on Mumbai Stock Exchange is on expected lines: there is nothing great about the Indian economy with the bickering politicians holding up reforms. India may try but cannot seem to go beyond its 7 to 7.5 % growth rate despite all the macho talk. Its banks seem to be in a bad shape and market is giving up hope on the ability of banks to cope with stressed assets. India's biggest metro in the South Chennai has been a flood wash out and it is only the private sector that seems to be of utility. The administrative services are nowhere to be seen, forget felt. If this is the type of 'governance efficiency' that one displays, FIIs will and should sell. Speeches do not substitute for diligent hard work. India's leaders have to realize that it is looking south !!!
Time to hold on to one's dollars. With oil plunging, commodity markets will drag down.
Views expressed are without any risk or responsibility. This blog recommends no investment.
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