05-31-2004, 11:29 AM
<b>Weak trend of futures indicates bearish market</b>
TIMES NEWS NETWORK[ SUNDAY, MAY 30, 2004 11:46:54 PM ]
MUMBAI: The derivatives market investors seem to be in a worse mood than their counterparts in the cash market. <b>After the common minimum programme of the new Congress-led coalition turned out to be a total non-starter with the market</b>, discounts in the futures and options segment of the market increased further on Friday, the day the leading benchmark indices â Sensex and Nifty â lost around 4.5 per cent each.
Since the derivatives market is taken as a pointer towards the future cash market trend, derivatives dealers are expecting some more downside from the current level since June contracts for a number of index heavyweights are at substantial discount to their respective share prices.
And marketmen are just keeping their fingers crossed â nobody wants another repetition of the âManic Monday' of May 17 or some free fall anywhere near that
TIMES NEWS NETWORK[ SUNDAY, MAY 30, 2004 11:46:54 PM ]
MUMBAI: The derivatives market investors seem to be in a worse mood than their counterparts in the cash market. <b>After the common minimum programme of the new Congress-led coalition turned out to be a total non-starter with the market</b>, discounts in the futures and options segment of the market increased further on Friday, the day the leading benchmark indices â Sensex and Nifty â lost around 4.5 per cent each.
Since the derivatives market is taken as a pointer towards the future cash market trend, derivatives dealers are expecting some more downside from the current level since June contracts for a number of index heavyweights are at substantial discount to their respective share prices.
And marketmen are just keeping their fingers crossed â nobody wants another repetition of the âManic Monday' of May 17 or some free fall anywhere near that