Hello Everybody, the weather in my town Bangalore is getting colder but the markets keep us in good stead. Markets which closed on a record high on Friday, are correcting themselves since Monday. The markets which were on a continuous Bull run the whole of last month are in a correction mode now.
The Bombay Stock Exchange closed with a Market Cap of Rs 100 million for the first time ever. The RBI has left interest rates unchanged . According to reports the period of lower Inflation and higher growth lies ahead.Though interest rates are unchanged it has not effected the markets much.November inflation figures and October Industrial output will be the next trigger for the Market.The Advancing of shares outnumbered declines by a ratio of 1926 to 1088 on the Bombay Stock Exchange.
Crude oil has fallen which in turn leads to decreased inflation with more money in the pockets of the people which is good for the Market. Now, the action in some stocks. ONGC was up by 3%, after agencies report indicated that the Government is considering reworking Company’s subsidy formula we had recommended ONGC to buy.Hindalco was down as it has to restructure it’s debt of Rs 63000 crores. Insurance Companies such as Reliance Capital, Bajaj Finserv have climbed on news of FDI in insurance making headway. Construction Stocks like NCC,IVRCL,Gammon India have also rallied as the Government eased FDI rules in construction sector.
Advancing of shares outnumbered declines by a ratio of 1926 to 1088, on the Bombay Stock Exchange. The Markets generally seem to be on a strong wicket with corrections on some days which is very healthy for the Market.HAPPY INVESTING AND TRADING.
