Choppy Market

One look at the weak macro-economic environment and the global scenario and no one is surprised why the bulls are running for cover. As the global price of crude scales new highs, inflation is a concern across the globe. India being no exception. Interest rates are not that low, inflation is at a high, the rupee is falling and cost pressures for Indian corporate on the rise. Foreign funds seem to have deserted Indian equities, for the time being at least. Technical and derivative signals also point to more weakness in the coming days. The good news is that India's industrial production rebounded in April, from a six-year low hit in March, as a strong performance by mining and manufacturing sectors offset weakness in electricity. The deceleration in capital goods and consumer durables - two key components of the