Today the sensex moved up by 28 points moving to17996 and the nifty went down by 2 points moving to5285. The IT stocks did well due to the depreciation of the rupee against the dollar. With the passing of the Food Security bill the markets have not taken it very kindly as a lot of funds allocation has to be made to a resource starved country. Tomorrow ie Thursday the 29th of August is the last day for the Futures contract. So, many contracts will be rolled over. The Foreign Institutions are selling with the fear of a falling rupee, and a strong US Economy now. Many investments are going to the US and money has been invested in US bonds. LIC has been buying lot of shares as lot of stocks are available at good bargains now. It is not a good sign as it is not a real market interest shown by investors, Market has been stable due to yesterdays sharp fall and LIC buying. The rupee came to Rs68/ per dollar showing a massive weakness.HAPPY INVESTING with care,make use of the price fluctuations and trade.
Todays Market
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About the Author: Sajay SM
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