Thursday, May 31, 2012

GDP Growth lowest in 9 years

GDP Growth rate is recorded lowest in 9 years. Some optimist have started dreaming of bottoming, few are forecasting even worse number next quarter because Government has done nothing to improve in last two month of current quarter.

Though one positive for today is that Nifty digested the news and march ahead, despite bad global cues, discounting all news and looking for a positive number next quarter. I do hope Bulls will enjoy till June 17

Rupees again hit new low of 56.50, but it paired off loses after RBI clarification on rumors that, RBI has asked state oil companies to restrict purchases of dollars through four state-run banks

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