From here market looks cautious because of following reasons :
1. Baltic Index has fallen around 35% in last one month even then equity markets are in upward trend.
2. In July there is likelihood of stress tests results of European Banks because of which european banks may have to raise their capital which may reduce liquidity in markets.
3. In July there is an IPO of Agricultural Bank of China which is likely to be listed on Hongkong & Shanghai. The IPO is of around 20-22 billion US $ which may absorb liquidity from Asian market.
4. Today there is UK Budget:
There, govt may raise tax & reduce govt. spending.
5. FOMC meet tomorrow & dayafter; G20 meet on Saturday. Outcome of it.
6. Possible Rate Hike in India
7. Possible Delisting of Freddie Mac & Fannie Mae in July
Posted By - Chintan Dedhia
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