No hurry says Fed; market to rejoice - IIFL

A lot may be accomplished in the market without anything really happening except that the Fed had reiterated something he spoke recently. Policymakers have learned the hard way to treat financial stability as a top goal, said Bernanke who says he has reserved his comments for July 17-19 when he will address the House of Representatives Financial Services Committee and the Senate Banking Committee.

The minutes from the Fed's June meeting showed many of the 12 Fed voting officials said they need to see further improvement in the job market before mulling winding down the stimulus program. Bernanke however didn't signal any changes in the Fed's bond-buying program, which has kept longterm interest rates low and encouraged more borrowing and spending.

A strong start is in the offing for the Indian market. Besides positive global indications, the domestic currency too seems to be in control. Government action to arrest the free fall seems to be working; the Indian Rupee closed at Rs. 59.78 closing below the Rs. 60/$level.

Source : Equity Bulls

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