Yesterday,it was a volatile session with a positive bias and finally we closed in green after 8 long trading days.First day of winter session of parliament is adjourned.And Rupee had hit new lows against the dollar.Yesterday, RBI allowed foreign investors to buy local or foreign currency bonds issued by Infrastructure debt funds.The foreign investors should stay invested for 3 years(3 year lock-in period).
In EU the consumer confidence dropped to a 2 year low, as the employers are cutting down jobs and the economy is struggling.The European indices ended negative yesterday amid huge volatility.In US GDP is revised to 2% compared to the previously reported 2.5%. I expected it to be unchanged(In my previous article). I was wrong.The revision was due to the corporates cutting down on inventories more than the expectation. DOW and S&P ended down by half a percentage and Nasdaq was down marginally. Dubai's financial markets fell to its lowest levels since 2004.
Japan markets are closed today on account of Labor Thanksgiving Day.
Our markets may open flat and I expect our markets to be volatile ahead of FNO expiry with a negative bias.I don't expect a bounce back today.
SGX Nifty is trading at 4780 down by half a percentage at 07.30 AM IST.
(To receive the Daily Market Report and Breaking news during market hours, in your inbox, type your email id in the box(Subscribe to Broker King) below the World Map in the blog and click Subscribe).www.brokerking.blogspot.com
In EU the consumer confidence dropped to a 2 year low, as the employers are cutting down jobs and the economy is struggling.The European indices ended negative yesterday amid huge volatility.In US GDP is revised to 2% compared to the previously reported 2.5%. I expected it to be unchanged(In my previous article). I was wrong.The revision was due to the corporates cutting down on inventories more than the expectation. DOW and S&P ended down by half a percentage and Nasdaq was down marginally. Dubai's financial markets fell to its lowest levels since 2004.
Japan markets are closed today on account of Labor Thanksgiving Day.
Our markets may open flat and I expect our markets to be volatile ahead of FNO expiry with a negative bias.I don't expect a bounce back today.
SGX Nifty is trading at 4780 down by half a percentage at 07.30 AM IST.
(To receive the Daily Market Report and Breaking news during market hours, in your inbox, type your email id in the box(Subscribe to Broker King) below the World Map in the blog and click Subscribe).www.brokerking.blogspot.com
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