Weekly Snapshot - Oct 06,2008

Market views and reviews:

Nifty made a new 52 week low of 3715 this week, RIL too slips to 52 week low indication that market lacks support from leaders. The global weakness continues to have impact on Indian markets. Earnings season kicks start in coming weeks. No fireworks expected in earnings amidst expectations of slow down in economy. Investors will watch how bad the global crisis has impacted the Indian corporate earnings. Inflation at 11.99% slips below 12% after 3 months.

World market views :

US house passes the $700 billion bail out package, DOW slipped inspite of it. Economists argue that the bail out may not resolve the on going financial crisis. US job numbers came in at a 5 year low indications of a slow and proplonged recession in US.

The tag of the money pumped in by world central banks to avert a financial turmoil has hit almost $2 trillion and is expected to swell even more.

The European union vows to fight back the financial crisis with strong measures. ECB kept interest rates unchanged at 4.25%.


US Economic events :

Tuesday, October 7, 2008 : Sep 16 FOMC Minutes , Retail sales index.
Wednesday, October 8, 2008 : Aug Pending Home Sales.
Thursday, October 9, 2008 : Initial Jobless Claims For Oct 4 Week