India’s stock market and Rupee growth has been fast and furious. The fall seems to come even faster.
I have been going gaga over the rise of Indian stock market as well as the rise of Rupee against dollar in the recent past. This blog has seen number of articles published previously on rupee fall and its repercussions for export oriented sectors like IT/ITES.
However the tide seems to be turning even faster. The stock market is plunging in big numbers every second day and the loosing streak does not seem to be ending. Indian stock market has come down to 15000 levels from high of more than 21000 levels in just 2 months. Investors have lost thousands of crores in this carnage.
The same goes with Indian Rupee. It was gaining ground against Dollar for last 7 straight months, come 2008, it has completely reversed its trend. The rupee has gone above 40.4 and seems to be going further by the day.
Will the stock market fall come to a halt soon or are we going to have dreadful 2008?
Will the Rupee come back to 43-44 against dollar, or is it just a temporary blip?
I don’t have these answers nor will I dare predicting!
Do you have the answers?