Weekly Snapshot - Sep 15,2008

Market views and reviews :

The Rupee weakness weighed on markets last week, with RIL not supporting the index nifty slipped to 4200 levels. Reliance makes a 52 week low, clearly not a good sign for market strength. Infosys has raised concerns about meeting its guidance in coming quarters due to the weakness in rupee.,IT stocks reacted negatively to the news. Inflation cools further to 12.10%. The Serial blasts in delhi would come in as a sentiment dampener to the markets.

World market views :

DOW was range bound last week, Trouble increses for Lehman as its future plans become murky. Wall street will keep a close eye on the developments around lehman.

Events to watch out for this week will be FED meet on Tuesday, Goldman sachs and Morgan stanley results. Interest rate Futures show a 17% chance borrowing costs will be cut by a quarter percentage point at this FED meet.

Crude oil falls to $100 levels. Gold also fell significantly last week.

US stocks are likely to take cues from FED meet and results of major financials and lehman's fate.

U.S. Economic Events:

Monday, September 15, 2008 : Aug Industrial Production.
Tuesday, September 16, 2008 : Consumer Price Index , Retail Sales,FOMC Meeting; Fed funds interest rate decision.
Thursday, September 18, 2008 : Initial Jobless Claims.