Oh wow ... Another 500 point rise --- oooo boy, the lovely days are back here again or are they? Hmmmm... Well, the oil has declined by $16 in the last 3 sessions, when I had checked in the morning - so this seems to be more of a relief rally more than any fundamental factor which may be driving the Sensex north. There are too many worrying factors on the horizon, most notably political uncertainty, inflation worries and a worldwide economic slowdown.
By the way, IMF has revised both inflation and growth forecasts. Read the piece here for more on this!
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