The market had moved up very quickly in the last few weeks, so a correction was long overdue.

There are no major triggers, apart from strong fund buys and quarterly earnings.

Reliance Industries has clearly led the rise today, and investors are confident because of the fund flows into the market.

The market had moved very quickly in a short period of time, so investors are just taking profits now, waiting for guidance from the big tech firms.

I think the Nasdaq is playing catch-up, because we have had a full blown correction in most of the major indexes, but the Nasdaq hung up there I think toward participating fully,

We've climbed very quickly and strongly so prices are ready for a correction. The fundamentals haven't really changed. The crude market in the Atlantic basin is well supplied.