The market closed at 20147 (nifty 6105) on Wednesday. A very lacklustre trading day with the Nifty range bound 6085 - 6110.
Apparently the c/f of open position seems to be around 40% - the market view is the Long positions are being carried forward - hoping for a better than expected GDP numbers for the 4th qtr (Jan- March).
Expected to be around 5% (the lowest in a decade).
So what is the expectation ? The market experts talk about bottoming out etc etc
But the obvious reason for the market to be so bullish seems to be the continuous flow of foreign funds.
So who bothers about weak GDP numbers or the raising NPA with banks or the empty real estate at the new malls or the increasing inventory of unsold apartments or the reduced and cautious projections by most corporates .
the answer to the above is Nobody.
Every one is waiting for: a) the monsoon to arrive next week ; b) RBI to reduce the interest rates ; c) the government to accelerate the pace of reform in the last few months before the elections ; and d) expecting US and Japan to continue with the QE.
While waiting , everybody seems to be enjoying the IPL and BCCI discussions on TV.
Right now I find these discussions on BCCI and IPL more interesting than the market talks .
Apparently the c/f of open position seems to be around 40% - the market view is the Long positions are being carried forward - hoping for a better than expected GDP numbers for the 4th qtr (Jan- March).
Expected to be around 5% (the lowest in a decade).
So what is the expectation ? The market experts talk about bottoming out etc etc
But the obvious reason for the market to be so bullish seems to be the continuous flow of foreign funds.
So who bothers about weak GDP numbers or the raising NPA with banks or the empty real estate at the new malls or the increasing inventory of unsold apartments or the reduced and cautious projections by most corporates .
the answer to the above is Nobody.
Every one is waiting for: a) the monsoon to arrive next week ; b) RBI to reduce the interest rates ; c) the government to accelerate the pace of reform in the last few months before the elections ; and d) expecting US and Japan to continue with the QE.
While waiting , everybody seems to be enjoying the IPL and BCCI discussions on TV.
Right now I find these discussions on BCCI and IPL more interesting than the market talks .
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