The crucial Fed meeting that concluded while you were sleeping yet again disappointed the street. There was no mention of a stimulus package, referred to as the QE3 and this triggered sharp currency moves across the globe. The euro went down to 1.3 per dollar, its lowest since January, and the rupee too plunged to a fresh lifetime low, breaching the 53-per-dollar mark.
In equities, a late rally yesterday pushed the Nifty over 4800 after three days of losses. US market shut shop down 1% and Europe closed about half a percent down.
Asian markets have today opened marginally in the red, HangSeng down 0.7% and Nikkei down 0.6%. Shanghai too opened down 0.4% today.
The focus of the market however is going to be mainly on the OPEC meet scheduled for today apart from the Italian 5-yr bond sale today. Spanish bonds are up for sale tomorrow.
Listen in for the pre-market summary and newsmakers of the day. Click on the speaker icon on the top right to listen to the audio wrap
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
