The sliding European economy is propelling European Central Bank President Jean-Claude Trichet toward the zero-interest-rate world he sought to avoid. What this possibly means is a stronger dollar and lower commodity prices. Crude oil slid below $40 a barrel and the BSE commodity index took a big hammering.
India’s industrial production unexpectedly rose in November, after declining in the previous month for the first time in 15 years amid a global recession. However, markets chose to shrug off this data being more concerned about corporate governance issues in corporate India impacting near term earnings.
On a personal note, the markets seem to have hit low technical levels. I believe this is a good time to buy. Personally I have bought L&T, Axis bank and Educomp. I am also keenly looking at SAIL.
