Down on Monday
The markets plunged further on Monday, with all sectoral indexes falling sharply. The Sensex was down 2.28% (237.9) at 10,213.4 and the NSE Nifty down 2.4% (74.7) at 3061.6 at the close of the trading hours.| Percentage Decline | |
| BSE Metal Index | style="text-align: right">3.68 % |
| Oil $ Gas | style="text-align: right">2.68 % |
| FMCG | style="text-align: right">2.5 % |
| Hindustan Zinc | style="text-align: right">7.68 % |
| Sterlite | style="text-align: right">5.6 % |
| Tisco | style="text-align: right">4.32 % |
It is clear the markets are still in the phase of deep correction that started with the fall in May. It seems that the markets will continue their bad run for a while, and the month of June will be either rage bound or the makets may further correct to the levels of 9,000 - 10,000.
Most analysts belive that this current phase is temporary and the long term prespective of the markets is still very much intact. Some even predict at the end of the year we may end up at 15,000 for the Sensex! So let us just keep our fingers crossed and hope that the FII's would understand this and bring their money back to our markets.
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