Uncertainty is looming large – be it on the domestic economic outlook or global growth prospects.
Confidence and conviction are in short supply these days as markets continue to get weakness, due to deteriorating economic backdrop. Uncertainty is looming large – be it on the domestic economic outlook or global growth prospects. Things continue to be chaotic and messy almost across the board. The Rupee is under the hammer on two counts – weak Indian fundamentals and global risk aversion. Inflation remains stubbornly high despite moderation in GDP growth, leaving less elbow room for any policy action on the part of the RBI. The Center is lethargic and unusually scared to take crucial policy decisions – be it on subsidies or FDI.
Greece is back in focus globally amid mounting fears that the indecisive outcome of elections is pushing it to the dark yet again. The debt-laden nation could most probably leave the euro currency bloc. It is debatable whether the so-called ‘Grexit’ will be orderly or disruptive for the euro and the world. For now though investors remain fearful.
Volatility has also increased lately given the bleak near-term outlook. A lot of damage has already been done but the bias still remains negative. Medium-to long-term investors could snap up quality stocks at lower levels.
Key Results Today: Aditya Birla Nuvo, Akzo India, BF Utilities, Bank of Baroda, Cummins India, Deccan Chronicle, Essel Propack, Elder Pharma, Elder Health, Emami Infra, Firstsource Solutions, Gammon India, IL&FS Engineering, India Infoline, JK Tyre, MMTC, Pantaloon Retail, Patel Engineering, Reliance MediaWorks, Shree Cement, Sterling Biotech, Unitech and Videocon Inds.
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