The market is going steady. The Sensex is up 134.50 points or 0.5 percent at 27593.73 and the Nifty is up 38.20 points or 0.5 percent at 8375.20. About 1584 shares have advanced, 1041 shares declined, and 136 shares are unchanged. Infosys, Maruti Suzuki, BHEL, Wipro and HDFC are top gainers while ITC, Dr Reddy's Labs, GAIL, SBI and NTPC are among laggards.
The emerging markets and global macro, Morgan Stanley Investment Management Sharma is of the view that China is neither in control of its equity market, nor its overall economy and that poses a significant global economic risk.
Shanghai markets have in the recent past plunged 8.5 percent in a single day merely on the negative growth sentiment prevailing. The government is trying to shore up confidence and has infact entrusted a securities fund with USD 500 billion to keep buying shares with just one-point agenda in mind- to keep the market afloat. But the measure has hardly impressed analysts. owning to a widespread lack of confidence in the government.
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