Markets were up today, the sensex was up by 235.98 points touching 33342.80 and the Nifty was up by 68.80points touching 10283.60. The main reason for the market to rise is the upgrade given by Moodys rating services. After 13 years upgrade has happened it is a recognition of the Governments reforms across various areas.
Ace Investor Jhunjunwala says 15% return is enough in the capital market. Accepting 30% to 40% is a bit too much. He is of the opinion that, a lot of capital is available in India and one need not bother about Foreign Capital.
Festival sales have been good but the losses caused by demonetisation still linger on. Poor show by Telecom Companies, Capital good makers and Textile Companies have reduced the prices of these shares. Decline in Raw Material prices has increased the earnings this quarter. Markets seem to be in a very good mood. Earnings are good but a sense of Euphoria has set into the markets which is a bit uncomfortable for the markets. Better to book profits periodically. Happy Trading and Investing.
