What happned in Indian Markets this week ?

The Full week was dull almost every day we saw a red stroke or a downtrend but an excellent pulback of 464 points on SENSEX i.e 5.5%. on Friday.

The whole week markets were mainly down because of bad global cues.

Inflation in single digits thats cool.

Crude Oil sliped below 50$ before recovering. Thats also good.

The bad news is worlds second largest economy JAPAN slips in recession.

Germany went in recession last week.

And the same job cuts news continue to rule.

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US Banking majors are busy cutting jobs.

Nows its the turn of Bank of New York Mellon after Citi Bank.

Bank of New York Mellon is planning to cut 1800 jobs blaming weak economy.

While Citigroup INC said it will cut 53,000 jobs.

More over Citi Banks Indian CEO resigned and is replaced by Mark Robinson.

Whats Next ? Who knows ?

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