Monday, 24 August 2015
Sensex, Nifty to crash at start
The outlook is a crash at start. A quick revival is unlikely today but indices could find support after the initial sell-off as investors may look at shifting to some large caps which have crashed in the last couple of days. FIIs have been dumping shares in emerging markets including India and last week they sold index futures worth Rs 2,400 crore. The weakness in the Indian currency is hitting global investors. Indian Oil Corporation's offer for sale is expected to suck out some liquidity. The fate of a host of IPOs which are in the offing will be interesting to watch as most of them this year have done well so far. This week will also see the expiry of derivative contracts on Thursday and that will add to the choppiness.
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