Take it as it comes! - Market Mantra - IIFL

The indices had a brief run ahead of the expiry. Today promises to have some amount of choppiness but indices could remain in a narrow range as much of the action appears to have already taken place on Wednesday.

The start will be cautious as market participants will avoid any major bets at start on expiry day. Global cues are mixed. Asian indices are higher; the yen has fallen to a 27-month low. Retailers this Christmas were left in the cold as data came out that holiday shoppers stayed home, retail sales witnessed a drop as compared to last year.

The US market ended mostly in the red. Positive data for the month of October for U.S. housing sector showed that prices rose 4.3% which is a positive sign for the economy. Indian companies making full use of the External Commercial Borrowings(ECBs) and foreign Currency Convertible Bonds (FCCBs) route raised some $1.35bn from the overseas market which is down $4.29bn raised in the previous months.

Source : Equity Bulls

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