Brightness on the bourses!

Money is like a sixth sense and you can't make use of the other five without it - William Somerset Maugham.


Overall, the trend for the day appears bright. Investors are likely to get wealthier and prosperous on the eve of Diwali. We expect 6130 to be the near-term support while resistance is seen around 6230.




The world has received another large dose of liquidity from the Federal Reserve as it tries to jolt its economy out of a deep slumber. At US$600bn for the next eight months, the size what is called “QE2” is more or less in line with estimates.The big question is will it boost the US economy?


US stocks oscillated just before and after the Fed move before ending higher. European stocks slipped. Most of Asian benchmarks are up this morning. We are looking at yet another positive start.

Of course, Coal India is set for a big bang listing, which is expected around Rs. 280-290.It would be interesting to see how Coal India will behave through the day and what will be the close.


When the Nifty will hit a new all-time high is anybody's guess but the ascent won't be a smooth one. In case of a further fall, the Nifty is likely to find support in the 5950-6100 zone.


The central banks in the UK and EU will review their policies later on Thursday. The Bank of Japan's policy meeting is slated for Friday as is the monthly US payroll report. And don’t forget ‘Mahurat Trading’ on Friday.


Results Today: Engineers India, Jubilant Foodworks, Karuturi Global, Videocon Industries and XL Telecom.


FIIs were net buyers of Rs. 9.87bn in the cash segment on Wednesday (provisionally), according to the NSE web site. Local funds were net sellers of Rs. 3.7bn. In the F&O segment, the foreign funds were net buyers at Rs. 5.71bn on Tuesday. The foreign funds were net buyers of Rs. 9.28bn in the cash segment on Tuesday, as per the SEBI data. Mutual Funds were net buyers at just Rs. 172mn on the same day.

Flows into emerging markets equity and bond funds slowed significantly during the fourth week of October, according to EPFR Global. While Emerging Market Equity and Bond Funds absorbed $2.68bn and $710mn, respectively for the week ending Oct. 27, those figures were around half the previous weeks totals.


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