In
this photo released by Cubadebate, Cuba's former President Fidel Castro attends
the inauguration of the cultural center, Studio Kcho Romerillo, Laboratory for
Art, in Havana, Cuba, late Wednesday, Jan. 8, 2014. Castro has made his first
public appearance in nine months, attending the opening of the art studio in
the Cuban capital. Castro, 87, led Cuba for 48 years before falling gravely ill
in July 2006 and handing over power to his brother Raul, who formally became
president in January 2008.
Correlating the ups and down in the Indian rupee with the stock market, Vijay Bhambwani, CEO, bsplindia.com, suggests that if the rupee continues with its downward fall, the Indian stock market may fall breach October lows and fall further. “If the rupee falls below the 53.0-53.50 mark vis-a-vis the USD, expect a mini meltdown atleast in the equity markets. In that case, the 2250 level (on Nifty) will be breached easily to form a new low. The possibility of that low being below the 2000 levels on the Nifty spot is fairly high,” he says. Bhambwani supports his outlook by comparing the value of rupee at the time of October lows. “The October 2008 lows were made with the INR at 51.20 - 51.40 band. The rupee has breached the 52 level since then. Clearly the nation’s ‘share price’ (currency) indicates weakness. The curency market is a far more accurate barometer of the nation’s health compared to the equity indices. Whether you like it or not, we are under siege. Had it not been March (NAV ...
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