India Markets: Beware the next downleg

Tuesday, February 24, 2009

One third of companies report Loss

Apart from the slower growth in sales, the poor performance in the third quarter is also attributed to 755 companies reporting a net loss of Rs 12,327 crore
Investors fleeing India
The aversion to Indian equities among global investors remains, amid deteriorating government finances and uncertainty over corporate earnings and economic growth. These investors pulled out money from Indian stocks for the fifth straight week ending February 18, according to international fund tracker EPFR Global.
Besides these two factors, there are questions about the accounting practices of most corporates in India; giant companies like DLF are under the scanner.  These factors combined with the continued meltdown in the Developed world is setting the stage for another downleg in the Indian Market.

Expect 2000 Nifty to be breached...govern yourself and your investments accordingly.

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