Market Mantra
Silence in the Street
I have learned silence from the talkative, toleration from the intolerant, and kindness from the unkind… - Khalil Gibran
The street appears to be silent for now and not much action is really expected before the F&O expiry. The Indian equity market will remain affected by concerns about ongoing political slugfest over CAG reports.
The BJP appears to have reached a no-compromise stage refusing to listen to the Prime Minister’s statement and instead demanding his resignation. The Prime Minister, kind of justifying his silence on issues says “My silence is better than a thousand answers…” andthat “I must be allowed to defend myself.”
The ruling party has clarified that there is no plan to bring a Confidence Motion in Lok Sabha or sine die adjournment of Parliament.
The Asian markets are flat to negative. US indices ended slightly lower. The start for the Indian market will be flat to negative with no positive triggers in the offing. Globally, investors do not want to take fresh bets and are hoping to expect some better comments from the annual Federal Reserve Bank of Kansas City meeting at Jackson Hole. In the past Fed chairman Ben Bernanke has comments which have moved the market.