FPIs Seen To Remain Bullish On India Market
Apart from low oil and gold prices positive global cues like the recent euphoria in the US market due to the strong employment numbers is also expected to have healthy impact on the market.
The U.S. Labor Department this week reported that the economy created 248,000 jobs last month, its strongest performance since pre-financial crises days.
Crude oil prices continued to decline after Saudi Arabia's state-run oil company cut prices.
Gold prices too dropped significantly to be sold below $1,200 an ounce for the first time this year.
The Indian equities markets had posted marginal losses in the current truncated week as profit booking led to volatile trade.
The benchmark Sensex was marginally down by 0.21 percent in the week ended Oct 1 from its previous weekly close on Sep 26. The index closed at 26,567.99 points, while it had ended trade at 26,626.32 points on Sep 26.
In the previous week the 30-scrip Sensitive Index had lost 1.71 percent in the week ended Sep 26 from its previous weekly close on Sep 19. The index closed at 26,626.32 points, while it had ended trade at 27,090.42 points on Sep 19.
The Indian markets will resume trade on Tuesday
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