We are at the end of the crucial week which saw greater turbulance in the financial markets in the early phase. But towards the end, it looks like we are approaching the normalcy. As noted by Mr Kamath, ICICI is heading towards normalcy and now focus has shifted from ICICI and Reliance com to RIL and TCS , the scrips of which were bashed at the boarses. The present normalcy may be attributed to the Indian central bank efforts to fight the liquidity crunch by slashing the CRR by 250 basis points and the special window offered to the MF. These measures also accompanied by the Ministry of Finance release of long standing refinance of loan weavers amounting to Rs 25000 crores into the system. These measures eased the liquidity situation and brought down the inter bank call rate to 6.9%.
Given the positive surge set in yesturday all over the global markets, our markets are expected to open positively and hope mild upward surge!!
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