Mumbai, Aug 16 (ANI): Eminent market analyst Sunil Shah today said that despite the 150-points rise in the Sensex, the general investor mood is expected to remain cautious for at least a week.
Giving much-needed relief to investors and traders, the Bombay Stock Exchange gained 1.5 percent earlier in the day, mirroring the global market scenario, reopening after three days since Monday was a national holiday.
At 9.18 in the morning, the 30-share BSE index was up 1.03 percent at 17,012.48 points, with all but two of its components rising.
However, Shah asserted that though the markets had opened on a good start, most people would first wait and observe the situation unfurling in the European markets before investing.
"The Sensex is up by 150 points, which is reflecting global cues obviously. Yesterday and today, markets are good world over. So, Sensex is reflecting the global market scenario. Of course, the mood is very cautious because people would still wait and see how the markets behave in this week and how the situation in Europe is developing," said Shah.
The 50-share NSE index was also up nearly 1 percent at 5,121.20 points.
The rupee was stronger in early morning trade, aided by a firm euro and positive local shares. At 9.30 in the morning, the partially convertible rupee was at 45.2225/2300 per dollar after touching 45.1700, compared with Friday's close of 45.35/36.
Shah also said that investors, already wary of the high volatility in both the economic and political spheres, were closely following the ongoing face-off between the government and veteran activist Anna Hazare.
"Local investors are keeping eye on the development that are happening in Delhi as of now, the civil society and Anna Hazare's agitation for Lokpal. So, mood is certainly cautious and nobody wants to go all out and buy equity. So we will have to witness and I think we are in for one more week of high volatility in the market," said Shah. (ANI)
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