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Zee Biz August 17, 2009 D Street May Inch Towards Consolidation

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The impact of drought would be felt in some time from now and that is holding back investor confidence to enter market," SMC Capitals Equity head Jagannadham Thunguntla said. Besides, with the US economy showing signs of revival and Germany and France emerging out of the recession quicker than expected, analysts feel it could bring in a positive bias in the market.

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Zee Biz August 17, 2009 D Street May Inch Towards Consolidation

  1. 1. D-Street may inch towards consolidation: Analysts Sunday, August 16, 2009, 12:03 IST Mumbai: A wave of consolidation is likely to greet Dalal Street this week as concerns over rainfall shortage would pull down investor sentiments and keep the market under pressure, analysts said. "The market would remain range-bound and would look for a positive trigger amid the dampening effect on the possibility of a drought-like situation in the country," Ashika Stock Brokers Research Head Paras Bothra said. Analysts also said there might be some positive bias in the movement of the market but absence of any major trigger might shift focus on the rain God. "Delayed monsoon has made the market totally indecisive of the next move. The impact of drought would be felt in some time from now and that is holding back investor confidence to enter market," SMC Capitals Equity head Jagannadham Thunguntla said. Besides, with the US economy showing signs of revival and Germany and France emerging out of the recession quicker than expected, analysts feel it could bring in a positive bias in the market. "As it is now a known fact that the major economies are pulling themselves out of the recession, I do not foresee any major collapse in the market in near term as it is all positive news around," Bothra added. The BSE Sensex gained 251 points, or 1.66 percent in the past week and closed at 15,411.63 points.

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