Daily Market Opinion for 02-Oct-2013

US government shutdown continues to be the main talk of the town yesterday as market participants were anxious of the impact it can create on the US economy. Participants of STI were digesting this news and its impact yesterday which attracted some bargain hunters to enter the market. This lifted STI during the opening session which helped STI to recover back to 3180 level. During the morning trading session, STI was able to sustain the gains and even reached as high as 3198 level. However, concerns of the shutdown impact looms the market and cautious traders made use of the strength to exit the market during noontime. STI then returned back to its opening levels and closed at 3181 level. 13.63pts was gained for the day despite losing its bullish ground during the day. Last night, DJI made humble gains of 62.03pts. Will ...