Share Market Today 7-June-2012

Suddenly, the world seems to be a better place for embarrassed investors. Hopefully, the current relief rally may still have some steam left in it. So, convert this opportunity into profit before fresh bad news drags things back. The opening is likely to be positive again. Use every rise to make profit , as we seem to be facing just a technical swing upward . The mammoth of problems that the markets are confronting is yet to be addressed .No doubt, headlines telling about action on various areas by the Centre but by now we of course have learnt to wait and watch for some real outcome.

The eurozone remains at the core of the current mess. Doubts are also being raised about the strength of the US and Chinese economies. Market players are hoping for emergency intervention by central banks but the same may not come thorough. The ECB’s move to refrain from cutting rates or committing to more LTRO is case in point.Investors will tune into Fed chief Ben Bernanke’s testimony to Congress today to see if he drops any hints on QE3. Also watch out for an important Spanish debt auction.

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