Sliding rupee, rising oil make analysts cautious; book profit now, they say

Rising oil prices that are closing on $80 per barrel mark once again and a sliding rupee that is nearing an all-time low of 73 to a US dollar have dented the stock market sentiment with the S&P BSE Sensex slipping nearly 1,000 points in the last two trading sessions.
 

The developments have made analysts cautious, who suggest investors’ should book partial profit at the current levels and avoid fresh investment in the markets till rupee and oil prices stabilise.

Given the higher interest rate environment and weakening macroeconomic fundamentals (GST collections running below expectations fanning concerns on the government’s