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So here is some good and bad news coming in. To start with the piece of good news from the economy. For the week ending Aug 23rd 2008 the inflation figures have slipped very marginally to 12.34% as against 12.40% reported last week. Even though its a marginal dip, but its a considerable one as the inflation is on a down turn for the last two consecutive weeks. Prices of some essential goods have come down due to the tighter monetary conditions.
The Indian share markets which gained 550 points day before yesterday fell by over 151 points to settle at 14,899 below the psychological 15,000 levels. Weak Asian markets along with the expected inflation data led to the fall in the markets. Meanwhile the US markets had badly crashed yesterday with Dow and Nasdaq losing in a big way due to the further increase in the Jobless data by another 15,000.
Reacting to this the Asian markets have started their day in deep red. Nikkei-225 and Hang Seng are currently in a downfall. The Indian markets are also expected to lose significantly today. So the traders are expected to be very cautious today. A brief rally may again come back after a few days from now.
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