There was not a single day this week, in which the indices ended in the green. In fact, the Sensex fell for 6 straight days and is expected to be volatile next week. IT stocks took a bad hit with stocks like Infosys, Wipro and MindTree falling to 52-week lows, while pharma stocks too had a bad week.
They have been net sellers in every session this week. Markets which were comfortably perched over the 28,000 levels are now precariously poised and are threatening to breach the 27,000 levels and fall below that.
Markets would next week be very volatile ahead of the outcome of the US elections. If Donald Trump does win the election be rest assured that markets across the globe could react negatively.
On the other hand, if Clinton wins, expect the global markets to rally. IT stocks in India, which have languished for long now, may see a sharp bounce, should Hillary Clinton win the US Presidential elections. At the moment it seems a statistical dead-heat and nobody knows the outcome. If you have a penchant for risk go ahead and stick your neck out and buy.
Chances are bright that you might have Hillary Clinton as the next President of the United States.