MARKET 0UTLOOK 4 June 2012 by marketmagnify.com |
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The markets lost moderately during the week. The Sensex was down -1.55% while the Nifty was down -1.60% during the week. We can see the strong resistance of 4950 in Nifty. I think the Nifty is getting into a range between 4780 and 4930.If Nifty break successfully the level of 4780 then we can see downside level of 4700.
From the global perspective. The Indian government or global economic woes, the fact is the Indian growth story is slowing down. India's GDP for the quarter ended March grew at mere 5.3 percent, lowest in nearly 9 years, against expectations of 6.1 percent. For the financial year 2011-12, growth slipped to 6.5 percent from 8.4 percent a year ago. The Indian economy may continue to grow at a slower pace for some more time to come unless the government kickstarts reforms. What we need right now is more fiscal activity. I would not exactly call it fiscal stimulus, but fiscal discipline. At the same time, just kick starting some of the projects lying dormant and needs some degree of political will on the part of the government. Unfortunately we are not seeing that now and, therefore, we would possibly continue to see this rate for some more time.
The global economy continues to be fragile and the worst is yet to come, and it may be a hurdle to India's growth story as well.
For the week, The Sensex was down -1.55% while the Nifty down -1.60% during the week.
NEWS AFFECTING INDIAN MARKETS
India’s GDP for the quarter 5.3% vs. 6.1% for this financial year 2011-2012. Growth slipped to 6.5% vs 8.4% a year ago
IGL wins verdict as Delhi HC quashes PNGRB order.
Fed likely to go for QE3 as US job growth plunges again
China slowdown worsens in May as economic growth likely to fall to 7.9% in Q2.
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