It’s a new week, but it is the same backdrop. Bad jobs data from the US, sell-off on the Dow, the S&P. 2% plus cuts in most of Asia - it’s not the best kind of global backdrop you would have hope to walk in this morning.
In any case last week was a terrible week, 10% down nearly the Index everybody was hoping for some good news from the global space, which could lead to some short covering. But that is just not coming. In fact we have had some more bad news from the US and that means that the global backdrop is weak once again this Monday morning.
-Udayan Mukherjee, Executive Editor, TV18 |
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