Post the FED meeting what did become clear was the fact that interest rates would rise in March and that the rate of increase would be more than the customary 25 basis points.
BSE SENSEX lost 1,836.95 points or 3.11 per cent to close at 57,200.23 points while NIFTY lost 515.20 points or 2.92 per cent to close at 17,101.95 points.
Dow Jones was very volatile and ended the week with gains of 459.97 points or 1.34 per cent to close at 34,725.47 points.
At this level, the series would have been higher by 1,240 points against a loss of 93.80 points that the series ended at.
On the positive side, one can be sure that with the mega IPO from LIC expected shortly, may curb the government from doing any tinkering which may affect stock markets negatively.
In primary market news, the IPO from Adani Wilmar Limited to raise Rs 3,600 crs has completed two of the three days for which the IPO is open.
It also has a setup in Bangladesh where it is trying to replicate the Indian model as the country Bangladesh is a model of West Bengal, in terms of market, likes and dislikes and also opportunities.
Over the years the company has focused on converting itself into a Food FMCG company with focus on almost everything that is required in the kitchen.
Considering the lackluster response that the issue has received so far, the issue may be given a skip and looked at on listing instead.
SEBI is insisting with many of these loss-making tech companies who have filed their DRHP’s and are looking to tap the markets with the RHP, to submit latest accounts updated as of 31st December.
Coming to the markets in the coming week, it’s a new series but has the budget to be presented on Tuesday.
On the positive side, if nothing majorly negative for the markets does not happen, we have a possibility for a small rise happening.