Yesterday our markets opened with gap in the green, but in the closing session slided in the -ve zone. Nifty after opening poistive at 4741, rallied till 4916, but as mentioned that the Nifty has good resistance at 4950, slided down and closed at 4743. On 28th March 2008 Nifty closed above 10DMA. That was the only day when Nifty closed above 10DMA since it slided down below on 03rd March 2008. Nifty support and resistance still remains the same. Global markets are marginally down. Even after the great rally in the Global markets yesterday our markets underperformed. WHY???
Where are all the Mutual Funds, have gone. They are sitting on the huge cash pile of 22,908 Cr.
Mutual funds asset base fall 6.6% in March - 31 out of 33 MFs reported declines - AUM as of March 527705.93 v/s 565100.04 crore a month ago.
Oil PSU's retail losses up 7.3% and oil bonds maturing in March to increase fiscal deficit.
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