Mathan Somasundaram

Market had another cracker day to deliver two consecutive days of above 1% return…last time we had that was in April. The market was on fire once again and it was mainly drive by resources with banks helping out. It is going be interesting to see the US market tonight as it will be shut tomorrow Thanks Giving and most likely to be a low turnover Friday as traders are likely to take Friday off to make a long weekend. Logic suggests there should be profit taking from historical high levels before going away on a 4 day weekend. Today’s performance was mainly driven by Resources and Banks while Health Care was the only negative sector. Locally we are beginning to see more signs of lenders putting up rates and raising the bar for investments loans while construction cycle looks to have turned. For the full report… (VIEW LINK)


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