Sensex drift lower, as Jove takes a negative stance

We had warned in our columns that the markets are headed southwards.

The Sensex is now at 16084. What a drastic fall. On global cues, it fell 300 odd points yesterday. The Return of the Bear ?

Weak sentiments prevailed on Dalal Steet. It is not surprising to the men that see, as the planet of Finance, Jupiter, transits the adverse 10th for India.

L & T fell heavily to 1312 and Siemens to 829.

It is better to hold on for the time being. Provisionally down at 1.73% on Greek default fears , the Sensex may take time to recover. The market is falling for the second, straight day. All the 13 sectoral indices on the BSE is in the red and index heavyweight, Reliance, is edging lower.

After good auto sales in September, auto shares were mixed. Metal shares fell across the board, as global commodity prices fell on global economic worries. JSW Steel fell, as reports of a CBI raid was rumoured.

Deficit in August was 14 billion, as 28 billion exports were achieved against a 38 billion import.