India Morning report (June 19, 2012) – Equities finally shrug off the blues

India Inc yet a non performing delivery forward, for those FIIs looking for bargain time, NSE makes a point that if one needs to invest in India they should have done so yesterday as the market finally shuts down the blues generator which took down most equities, including banks on monday after the policy announcement. Tuesday’s recovery in indices would be followed by a stronger surge as buying interest comes back and then the market prepares to go southward from a due peak.

However, this rally is not likely to sweeten the India pie for FIIs. $14 B FDI in four months according to the data released for April 2012 is still twice the data for 2011. The FII bashing of India, seemed to be a popular sport in the Financial Markets and backing India seems to gut most of them. Yet, here we are, happy that we can run on our own steam, the Current Deficit in the process of getting filled in by a depreciating Rupee

Silver and Gold will correct as Global equities continue a sharp comeback in the face of liquidity infusion in Europe. However as the Fed annoucnement tonight is no fresh QE and Euro may get battered in Asia today after its meteoric day charts, so tomorro may yet be the last day of the up move.

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