Nifty, Sensex outperformance
Despite the 8%+ drop in US equity indices yesterday, the Indian market defied all odds and had an intraday upmove of almost 5% today:
While I would like to believe that this is due to a fundamental improvement in growth / EPS prospects for Indian companies, the skeptic in me attributes today’s magical turnaround to a healthy mix of short-covering by traders and month-end / quarter-end window dressing by Dalal Street’s finest (aka mutual fund managers).
More on this topic
(What's this?)
SOS Trade: Cover 400 Nifty Call
(The Indian Investor's Blog, 10/6/08)
SOS Update: Up 10.37%
(The Indian Investor's Blog, 10/10/08)
Carnage on Dalal Street to Continue?
(MaxKapital, 10/7/08)
What is the bottom level for BSE Sensex?
(Indian Stock Market Guide, 12/24/08)
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