Showering blessings? The Met department has predicted that total rainfall for the crucial June-September monsoon will be below normal for the first time in four years. This has temporarily scared investors. Punit Paranjpe / Reuters
Much on expected lines, key indices fell initially, but bounced back on bargain hunting at lower levels. The gains were not limited to India; global bourses also showed resilience in the face of lingering economic concerns. Positive data flow spurred the northward momentum.
In India, the markets took their cues from global economic indicators and showed signs of strength despite the fact that the prediction of a below-normal monsoon raised fresh concerns about the strength of an economic revival.
Posted by Ayeshea Perera on Monday, June 29, 2009 at 4:01 pm
Filed under Markets · Tagged Ahead of the Ticker, India, job report, monsoon, Sensex, US, Vipul Verma
