Inflation, Global cues take the toll on Indian Markets
Sensex closed shop at 15,515 down by 448 points. As I discussed in my earlier post on market update, markets are going through a whole lot of negative sentiments and today's carnage was in line the same. Govt's announcing price hike in petroleum products has raised fear of higher inflation. European markets were trading lower. The fall was pretty much across the board. I am of the view that sensex may see a further fall of around 800 points from here in a worst case scenario and that would be tempting levels for buying into the equity markets.
Some stocks that are on my radar for price movements and possibilities of buying at lower levels are Punj LLoyd, Shipping corporation, Skumar, NTPC , Lanco Infrastructure, Cairn energy,Welspun Gujarat, Nagarjuna Fertilizers and Reliance Industries.
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