Reuters blog archive
from Expert Zone:
(Any opinions expressed here are those of the author and not of Thomson Reuters)
After a scare earlier in the week, the markets showed resilience at lower levels and bounced back, showing the confidence of participants. Though Nifty closed 26 points lower for the week at 6063, sentiment was much better than the previous week.
The initial weakness was due to the overbearing effect of global data points on emerging markets including India. China’s slowdown, the weakening emerging markets currencies, rate hikes and tapering fears were an ideal concoction for doomsday theories to float around. Fears ranged from a repeat of the 1997 Asian crisis to the beginning of a great depression. Notably, the rupee showed strength compared to its peers.
Euro zone data was positive with the composite PMI touching 52.1, its highest since June 2011, while falling inflation led to worries of deflation. In the United States, poor jobs data raised hopes that the Federal Reserve would go slow on the tapering of bond purchases.
from India Insight:
By Aditya Karla and Sankalp Phartiyal
The BSE Sensex ended 2013 with gains of 9 percent after hitting life highs during the year. The benchmark index touched an all-time high of 21,483.74 on Dec. 9 after falling to a 2013 low of 17,448.71 in August.
Foreign inflows boosted sentiment on the street even as concerns about a slowing economy and high inflation weighed. Foreign institutional investors (FIIs) bought a net $20.1 billion worth of Indian shares in the year. FIIs had bought $24.5 billion worth of stocks in 2012.
from Expert Zone:
(The views expressed in this column are the author’s own and do not represent those of Reuters)