24 Aug 2005

The Indian equity markets remained weak throughout the day. In fact, some late buying came in to reduce the weakness to just 3 points and the benchmark NIFTY closed the day at 2323. The NIFTY August futures closed at the same level and the Septemebr futures continued to trade at a discount to the spot...Are we seeing a major reversal...Have we seen the top a couple of days back ?...it seems so...going by the weakness prevailing in the market..