VCSC Daily - Money flows back into market

Market Commentary

11 Oct 2012

Market view: Momentum and optimism over a Ministry of Planning and Investment proposal to lower taxes fueled a brief Thursday morning rally. Bears jumped back in the afternoon session on pessimism that the proposal would not pass due to concerns on the high budget deficit and rising inflation. At the closing bell, the indices closed mixed with the HNI notching up the win. The HNI advanced 0.6% to 55.8 supported by banking stocks (+0.8%).

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