Weekly Newsletter - Nov 11 2012

The week began with attention solely focused on who would the Mr. President of the United States of America. Obama’s second coming brought the US indices lower and all other global markets appeared to have followed suit. Investors appeared to be worried about how Obama will deal with or avoid the ‘fiscal cliff.’ Interest rates were left unchanged by ECB and Mario Draghi sounded that economic activity in the eurozone would remain weak in the near term. Indian indices were resilient at the start of the week but turned in the red from mid-week as the global sentiment worsened. For the week the Sensex and Nifty index ended marginally lower by 0.18%. The IIP numbers will have its impact on few segments as the numbers are announced on Monday. The earnings season continues and investors will continue to pay closer attention to corporate numbers as they come. The Monthly WPI is expected on Wednesday. It may be recalled that the diesel price hike had led to WPI inflation hitting a 10-month high in September.