“It is too premature to say there is a definite bullish trend in the market,” said Jagannadham Thunuguntla, head of the capital markets arm of India’s fourth largest share brokerage firm, the Delhi-based SMC Group.
“Just too much has happened in the last two months and investors are still shell-shocked and trying to understand the state of the global economy,” Thunuguntla said.
He said although US markets surged Thursday, Asian markets have shed values Friday despite an interest rate cut Friday by the Japanese central bank to a near zero level of 0.3 percent from 0.5 percent earlier.