12:19
Moneycontrol BureauLive Market Commentary
Bulls are back on Dalal Street, but not with full strength as experts believe the measures announced by the RBI to arrest increase in long term bond yields are just band-aid.
The Sensex is up 141.89 points at 18387.93 in noon trade, but it lost more than 180 points from day's high of 18567.70.
The Nifty is up 48.70 points at 5450.15, which shed more than 50 points from day's high of 5504.
Even the gap between advances and declines narrowed a bit. Two shares advanced for every share declining on the Bombay Stock Exchange as against the ratio of 5:1 in early trade.
BSE Bankex trimmed its gains from 6 percent to 4 percent on profit booking.
Expert talk
Claudio Piron, head of emerging Asia foreign exchange and Fixed Income Strategy, Bank of America believes the risk of tapering of quantitative easing (QE) in Q3 has been fully priced in by the markets. He expects the market to rally no matter what the Fed does in Q3.
However, he says that rally will be short-lived and would only provide temporary respite. This is because emerging markets are coming to the conclusion that they have to deal with a world where the Fed will ultimately exit from QE and zero interest rate policies in the next year to one-two years.
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Live Market Updates: Nifty hovers around 5400; IndusInd up 11%, Ranbaxy falls 6%
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Live Market Updates: Nifty hovers around 5400; IndusInd up 11%, Ranbaxy falls 6%
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