Sunday, March 09, 2008

Stock Market Update - March I

It's been a while I wrote something. It is not because I am giving up this blog, but because I was too much busy with respect to my work for the last couple of weeks.

Markets have came a long way since my last post. Of course the movement was towards the south. On Friday, Sensex touched another low and closed at 15975.52, a down of 566.66 points from the previous day.

Nifty closed at 4771.60, a down of 149.80 points.

This is lowest in the last six months. Can it go down further from here? Is this the time to put in your money? These are the few questions I have been asked this weekend.

I would say hold on for few weeks more. FED is coming up with an expected interest cut in the coming week. So we can hear from Ben Bernanke, the current FED Chairman, himself about where the US economy is heading.

Having said that, there are rumours that domestic mutual fund houses are ready to go in with billions of dollars, since they feel that market is at a discount right now.

So hopefully, next week will give us a direction.

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