Market in the previous week started with a positive note. Monday sensex closed 200 points and nifty 60 points up. Nifty closed above the 5500 level.
But there was completely negative trend occurred in Tuesday Wednesday and Thursday
In Tuesday sensex went down about 142 points, Wednesday about 117 points and in Thursday a major fall occurred and it closed 545 points in red.
Nifty went down to 5262 range from 5500 level during the 3 consecutive days of trade.
But nifty managed the major support level of 5200.
The main reasons for the negative trend was the inconsistency in the countries like Libia, crude oil price etc. If the revolt is spread to gulf countries then naturally the crude oil price will shoot up. Due to this negative news the investors withdraw their funds from the system.
The crude oil price went up to $120 during Thursday. These all affected market in a negative way.
But Friday the Economic survey helped the market.
Regards Hari " लोका समस्ता सुखिनो भवन्तु "
The expected 9% growth helped the market to close in green.
Now all the investors are waiting for the union budget. It will be presented in the cabinet on 28/02/2011 Monday.
The flow of market will surely depend on the decisions in the budget.
If there is sufficient remedial measures to control inflation, black money, corruptions etc. then definitely there will be a positive trend in the market.
Regards Hari " लोका समस्ता सुखिनो भवन्तु "
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