Weekly Snapshot - Sep 29 , 2008

Market views and reviews:

Nifty closed below 4000 for the week, first time since may. Markets slipped last week on the lack of clarity of the bail out package in US. Indo US nuke deal gets approval from the US House of Representatives, next stop will be the senate approval which is expected week. A positive sign for the markets. Indian markets will take cues from the fundamental developments happening in the Wall street. The bail out package would trigger a rally in markets. Inflation remained unchanged at 12.14%.

World market views :

Dow was largely range bound waiting for a positive outcome on the bail out plan. Its understood that the US senate has agreed on some sort of agreement over the package and is expected to be finalized soon.

The bail out package will put pressure on US dollar and is expected to weaken against major currencies. Weaker dollar could trigger another rally in commodities like Oil and Gold.

Washington Mutual was taken over by JpMorgan, In the biggest bank failure in US history.

US Economic events :

Tuesday, September 30, 2008 : Redbook Retail Sales Index.
Wednesday, October 1, 2008 : Sep ADP Employment Report.
Thursday, October 2, 2008 : Initial Jobless Claims.
Friday, October 3, 2008 : Sep Nonfarm Payrolls , Unemployment Rate:


Whats the $700 billion bail out package all about , Read More : Click here