Harjeet’s Blog

Trade across global markets has been nothing short of dramatic over the past couple of days. The WSJ shows a good timeline of how markets fared worldwide. The Indian stock markets halted trade on both days to prevent the markets crashing below a certain percentage. So are we in for a recession in the US? Has the sub-prime crisis fear once again caught up to the markets? FII’s seem to be selling and unwinding all positions in the Indian market. This led to stocks going below their 52 week lows. Is it a good time to buy only time will tell :-). My view on this is that the downfall can’t go on for much longer. There is money waiting in the sidelines that will eventually make its way to the market. If the US economy goes into recession, this may prove to be a blessing in disguise for India as the growth prospects are strong and valuations mouth watering. So the money from FII’s should enter the Indian market regardless. I may be wrong but lets wait and watch!