Global jitters continue!

Dwelling on the negative simply contributes to its power. - Shirley MacLaine

Greece may appear to be getting its house in order but Italy is giving the jitters now.

Prime Minister Silvio Berlusconi has denied reports of his resignation. Borrowing costs in Italy fired up with the yield on the 10-year note hitting record highs of 6.68%.



A European Central Bank official has stated that the sovereign debt crisis could be resolved in the next two years.

The US market staged a comeback of sorts with the Dow gaining 85 points. The S&P 500 added 8 points while the Nasdaq was up 9 points. In Asia, it’s a different scene as most Japanese stocks have cooled.

For India, it’s a truncated week with just three trading sessions. The market is closed again on Thursday on account of Guru Nanak Jayanti. The main events will be the IIP data for September and of course inflation. Results season will gradually draw to a close.

The start is expected to be positive. Attention will be paid to global developments. Brent Crude prices gained as concerns elevated about Iran's nuclear program.

Meanwhile, in India, the fuel hike last week has resulted in the Opposition parties especially the BJP demanding an immediate roll back of petrol price hike. They have threatened to stall Parliament during the winter session if the government fails to roll back.