India Morning Report: India happy with global correlation for a change

India markets usually exhibit a distinct toughness when it comes to bucking the global trend but in the last two years, othert Asian markets have become a more reliable indicator of the investor sentiment and thence market directions in Bombay and on the virtual NSE. Markets are taking a lot of strength from othewr upmovesi in AAsia even as the Rupee and our bonds star another upward journey from 8.5% on the weekend to 8% or 8.25z% before the first rate cut is evidenced in 2015

The Rupee trade still looks a bit weak and uncertain,  probably because non POil non Gold imports have been rising steadily and export rise unsustainable from a 10% rate oif increase in April 2014. Yesterday’s list of stocks incl Force and Tata Motors could remain instructive even as markets wait for banbks to sell off their excess bond holdings before putting them back in the buy list

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