(My Original Blog Post: http://www.onlineequitycalls.com/2008/12/weekly-news-letter-from-indianmoneypluscom/)
Source - IndianMoneyplus.Com Positive week. Good global cues. Falling inflation . Rate Cuts.
All the above reasons helped the markets to move upwards. SENSEX is a few hundred points away from touching 5 digit mark.
Auto stocks rallied in beginning of the week because of excise duty cut, but later gave up all its gain as the US auto majors didn’t get bailout.
We had smart recovery on Friday though all Asian and European markets were down.
FII’s are now buying a bit from Indian Markets.
The full impact of the rejection of the auto bailout package in the US may be felt in the week ahead across global markets. On the domestic front, the disastrous IIP number sent some fresh shock-waves and with a bleak outlook for Q309 results, the signs appear ominous.
More over most of the major economies are headed for recession.
An uncertain week ahead.
Stock to watch our for in the coming week.