Globally, stock markets are in a correction mode. US Dollar has gained against
major currencies over the last couple of weeks owing to strong economic data in
the USA. Concerns of an Argentine debt default are weighing on the emerging
markets. No wonder did the currency traders turned out to be net sellers in the
emerging market funds.
Locally, Indian markets have been languishing at higher levels without any
conviction for the past several trading sessions. Markets will be keenly
watching RBI's next move in its policy on 5th August. If Friday's session in
Nifty is the harbinger of things to follow then a correction is on the anvil.
major currencies over the last couple of weeks owing to strong economic data in
the USA. Concerns of an Argentine debt default are weighing on the emerging
markets. No wonder did the currency traders turned out to be net sellers in the
emerging market funds.
Locally, Indian markets have been languishing at higher levels without any
conviction for the past several trading sessions. Markets will be keenly
watching RBI's next move in its policy on 5th August. If Friday's session in
Nifty is the harbinger of things to follow then a correction is on the anvil.
