Fed up of weakness! Same story again - IIFL

You have to probably be out of this world to be strong in a market like this. Asset classes are being butchered in rotation but equity appears the favourite for getting crushed day in and day out. Today is no different and the trigger, just in case anyone wanted one, is the minutes of the Fed meeting.

The outlook is a weak start as markets world over are weak as Fed minutes point towards near-term tapering of its US$85 billion bond purchase program. Parliament is back probably to adjournments. The Reserve Bank of India is to release its Annual Report this evening. That aside, the Indian currency will remain in focus. Oil companies dollar demands are also setting in which could add pressure on the Indian currency.

The minutes of the Fed's July 30-31 meeting, released on Wednesday, showed that almost all of the 12 members of the policy - agreed that changing the stimulus was not yet appropriate. What is in store today is the Union Cabinet meeting followed by a meeting of the Cabinet Committee on Economic Affairs.

Source : Equity Bulls

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