Purnartha - 09-Oct-2013 - Analysis of events & factors likely to have near, medium term impact (To receive these updates in your mailbox - just call our toll free number: 1800 - 266 - 0161 or send an e-mail to support@purnartha giving your name and phone number) 1) Equity Market We witnessed a high volatile session yesterday. NIFTY gave up almost 70 points from its intraday high levels and Bank NIFTY gave up almost 400 points from its intraday high. We are expecting this volatility to continue. Results will decide direction of stocks. We expect a lot of stock specific action in the next one month. 2) Currency Market Rupee witnessed high volatility. Rupee showed a swing move of 70 paisa in intraday against US dollar. Expecting big volatility in last two weeks of October. 3) Commodity Market Gold is inching higher slightly due to uncertainty in US. Crude Oil also inched higher. In the near term we have bearish view on Crude Oil and Gold. 4) US Market US market closed sharply lower due to shut down. Obama said in a press conference that he is ready for discussion on temporary increase of debt limit. Janet announced as a new FED chair person. US markets are expected to take this positively.
Posted on: Wed, 09 Oct 2013 07:23:57 +0000
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