Good Evening All, the weather in my city Bangalore is pleasent with rains. The markets have been good this week withouth a break,the BSE sensex was up by 102.97 points at 27035.85 and the NSE was up by 24.50 points at 8177.40
The IMF has cut its growth rate for Asias third biggest Economy to 7.3 percent from 7.5 percent in fy 2015-2016.But stressed Indias groth prospects remained favourable. Caution prevailed as the Market ahead of second quarter earnings from October 12 showed that Indias services sector activity was lower due to tough economic conditions,which justified RBI by cutting rates by 50 basis points. Which was a big boost for markets.
The metal and realty indices rose, realty has risen due to the rate cuts anticipating furthur demand. But, investors should be cautious with realty stocks as the transactions are not transperent. China Markets have been closed for a week.Europe is stable. Now there is a buying opportunity for long term investors and traders can book profits periodically.
