Equity markets surfing in sea of negatives

The only positive in near term could be passage of Indo-US nuclear deal Shashi Ashiwal Will the bull be out?: The Bombay Stock Exchange’s Sensex tumbled below 15,000-mark, as the sentiment turned bearish following the surge in inflation numbers on Friday. Investors are clueless when the bull will regain its strength, considering the current negative news flows from all corners. – Major benchmarks sank 4 per cent on Friday over apprehension of a severe aftershock of unexpected rise in official inflation. The market in its stretched imagination expected that the last hike in petroleum product prices would not take inflation beyond 10 per cent. The WPI-based inflation for week ending June 7 reached 11.05 per cent setting an alarm that monetary policy tightening measures and harsh fiscal steps are in the offing. It also triggered... [read full story]