Solid start to an eventful week
Not being able to govern events, I govern
myself. - Montaigne
Three local events that start with “I” will be
closely followed along with the latest global
developments. IIP data for August is due on
Tuesday; inflation for September will be released
two days later and Infosys results will be
announced on Friday. The start is set to be
strong. US stocks climbed despite a weaker-thanexpected
jobs report. Wall Street is betting on
the Fed to unleash second round of monetary
stimulus to prop up the US economy. New York
Fed President William Dudley, who has voiced
support for more government bond purchases,
will speak in Washington later today.
Financial markets in Japan are closed for a
holiday today. Rest of Asia is doing well, with
China leading the regional rally. European stocks
drifted lower on Friday.
After a solid opening, the trend could turn choppy
as investors may choose to use the advance for
some more profit booking. Individual stocks will
remain in the spotlight. Avoid going on the
offensive for the moment and wait for some more
softening to pick up your favourite stocks.
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