It was a very good day on Wednesday for the markets posting a very good gains of 5%.It was only on Wednesday that markets have reacted strongly to the news which came out over weekend.
With US markets ending up marginally up by 1% and Asian markets being slightly negative ,Indian markets might find themselves slightly up as the mood might be still bullish on account of market breaking the key technical levels on Wednesday.With Inflation data to be out today,which may only bring good or very good news.
Auto sector is certainly seems to be very bad with Mahindra shutting down the Logan plant for about 3 months atleast .There have been drastic cut in the prices across all segments in the auto sector but the hopes of demand improving is not looking good.
RBI has officialy declared that growth for India is on slowdown and actual growth might come out lower then what they were expecting it to be.This news has been making rounds but its only now that govt has come out officially.This will effect the foreign inflows to the country.Relatively growth in India is higher when compared to growth Globally.But it has to be seen how FII's would see it.
Public sector banks have started reacting the RBI's move of moving home loans below 20 lakhs to priority sector loans.Banks have started to reduce home loan rates by 2% for home loans below 20 lakhs and 3% for loans below 5 lakhs.This a good news for propective home loan owners as 80% of home loans fall under this category.But still people may find themselves on waiting side as interest rates may further come down in coming 6 months.But the end of the day it is a good news and may push some people to get ahead and purchase.
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