Over 90 per cent of the 25 market participants in this dip-stick survey said the immediate bottom could come between 12,500 and 12,700 for the Bombay Stock Exchange Sensitive Index and 3,600 and 3,800 for the National Stock Exchange's Nifty.
Most respondents believed crude oil prices, which have risen 38 per cent between April and June, the biggest quarterly increase in nine years, and India's political stability will determine the course of the markets.
Most brokers felt that the valuations of many stocks have dropped to levels seen after the dotcom crash in 2001. This could attract some buying from foreign institutional investors (FIIs). They also expect crude oil prices to cool soon.
Full Story: Worst will be over soon: Brokers, analysts
Most respondents believed crude oil prices, which have risen 38 per cent between April and June, the biggest quarterly increase in nine years, and India's political stability will determine the course of the markets.
Most brokers felt that the valuations of many stocks have dropped to levels seen after the dotcom crash in 2001. This could attract some buying from foreign institutional investors (FIIs). They also expect crude oil prices to cool soon.
Full Story: Worst will be over soon: Brokers, analysts
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