Equities appear poised for a surge on Monday after the Nuclear Supplier Group (NSG) on Saturday reached a consensus on the Indo-US nuke deal agreeing on a clean waiver for India, allowing it an entry into the hallowed nuclear club.
Dealers expect the Sensex to surge by as much as 500 points, fuelled partly by short-covering of positions. The next key trigger would be the outcome of the Organisation of Petroleum Exporting Countries (OPEC) meeting in Vienna on Wednesday. In the wake of slowing demand, an economic downturn and fall in crude oil prices, OPEC may decide to trim the supply to avoid a further fall in prices of crude oil.
Monday, September 8, 2008
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