I sure looks like it to me!
market bulls were ripped to shreds in the wake of rising political uncertainty fueled by controversial remarks from Nawaz Sharif during an interview regarding the involvement of “non-state actors” in terrorist activities, in particular, Mumbai attacks. An urgent meeting of National Security Committee was called during morning hours to discuss Nawaz Sharif’s remarks on Mumbai attacks after Indian media picked up his statement and labelled it as a confession of state-sponsored terrorism. Later, NSC categorically dismissed Nawaz Sharif’s recent statement on the 2008 Mumbai attacks and unanimously termed it “incorrect and misleading”.
January Manufacturing turned down also. but should have already rebounded, as have Industrial production.