Markets may move up buoyed by the better than expected numbers from China : China's factory PMI has come at 49.8 above estimates and that of August's 49.7
The data from China is better than expected . Though it will be too early to celebrate , it should reassure the markets that all's not lost . China will continue to grow albet at a slower pace .
Also date from the Government of China will be taken with a pinch of salt . US markets recovered from their lows . Glencore shares recovered backed on the company's assurance .However the bigger concern remains on the balance sheet strength of Gencore in particular and mining companies in general .
However for now the market will be in celebration mode . In India with the interest rate cut and good international news the markets will continue its upward journey.
Some of the stocks that may provide value are : Tata Motors , Maruti, and L&T