Fed speaks; no disappointment really! - IIFL

Choosing not to spook markets, the US Federal Reserve's chairman, Ben S Bernanke, reiterated his stance that the Fed remains committed to its easy money policy and there were no plans to taper its $85bn per month bond buying program anytime soon. Asset purchases depend on economic and financial developments, but they are by no means on a preset course, he affirmed.

Given that global markets are mostly higher, we have a positive opening in store. The indices may remain in a narrow range with action continuing on corporate announcing their numbers. TCS will be in focus but the numbers are expected after market hours.

Mutual funds faced Rs500bn redemption orders from banks and companies on Tuesday, prompting the Reserve Bank of India (RBI) to provide them a three-day repo borrowing window at a 10.25 % interest rate.

Source : Equity Bulls

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