I was awake pretty late today and checking yahoo finance site for the global market cues for tomorrows (23 sep 2008) market in India.
Crude oil prices have taken biggest one day jump ever till date; when it spiked more than $25 today in US market.
However it has cooled down to $120.92 from the earlier $130 today. (which is still up by $16)
Yahoo finance says, it is because of an anxiety over the government’s $700 billion bailout plan battering the dollar and creating buying interest in safe investments including crude.
So how will it affect Indian market tomorrow, are we heading for another fall ?
I’ve failed to understand why Indian markets were going down when Indian economy is not doing so bad + Oil prices were going down (barring last 3-4 days) + nuclear power deal is signed off. (I mean lot of positive indications)
Probably thats how the Bearish market treats lot of positive signs just in the same manner Bullish market ignore the negative signs.
(nobody was asking why questions when sensex was rallying to +21000)
Ranjeet Walunj 