So confused really

The markets continued to remain choppy and highly confused in the week gone by They managed to close with gains of one per cent and more finally on various news flow The Sensex gained 25791 points or 101 per cent to close at 2586849 points while the Nifty gained 9430 points or 121 per cent to close at 785655 points What is significant is the fact that both indices found support and rebounded from levels which were considered as support The Sensex touched a low of 25451 and the Nifty 7714 The lows made two days later were at 25453 and 7725 respectively These levels will become significant levels of support in the coming weeksMalirsquos President Ibrahim Boubacar Keita c visits the Radission Blu hotel in capital Bomako the day after the siege PICAFPThe broader markets saw the BSE100 BSE200 and BSE500 gaining more at 123 per cent 133 per cent and 138 per cent respectively The BSEMIDCAP gained 192 per cent and BSESMALLCAP 218 per cent In sectoral indices the top sector was BSE OILampGAS up 428 per cent followed by BSE FMCG 281 per cent and BSE CAPGOOD 235 per cent The losers were led by BSE REALTY 146 per cent and followed by BSE IT 111 per cent and BSE TECK 053 per cent In individual stocks GAIL was the star up a massive 2384 per cent after Petronet LNG would be able to renegotiate a long term contract for gas sourcing from lsquoRASrsquo from the UAE This would save a massive sum of money to Petronet and make gas supplies to GAIL that much cheaper The other gainers were Vedanta 676 per cent MahampMah 536 per cent Hind Petro 471 per cent and ITC 454 per cent The losers were led by Axis Bank down 509 per cent and followed by PFC 510 per cent and REC 400 per centRally allyGlobal markets rallied behind the Dow Jones after it became increasingly clear that interest rates would be raised in the December meeting of FED The Dow Jones gained 57857 points or 335 per cent to close at 1782381 points The rupee lost 9 paisa or 014 per cent to close at Rs 6618This week sees two important events The first is the winter session of Parliament beginning from Thursday November 26 and the second is the expiry of November series futures There are as many as 67 bills pending in Parliament after the monsoon session was a washout After the success of the lsquoMahagatbandhanrsquo in Bihar Congress has every reason to feel elated and the appointment of Rahul Gandhi as Congress president seems imminent In this connection his meeting with FIIs about the role of the opposition becomes important One can easily read between the lines that probably the Congress would certainly prefer to debate issues rather than staging walkouts and obstruction of the house If this happens it would be great news for the country consequently the markets too as there will be debates and debates lead to outcomeDiscussion hourThe November series expires on Thursday November 26 and the current value of Nifty at 785655 points is 25520 points or 315 per cent lower than the expiry of October at 811175 points The month has been quite choppy and the bulls would like to pull back as much as they can from the current deficit If the mood of Parliament in the first few days is conducive to discussion they would be able to do so to a large extentAfter Paris there were terror attacks in Mali and it is hugely tragic the way innocent people are being targeted in these terrorist acts While the world seems to be seized of the issue unless drastic steps are taken and the base of these people is destroyed the world would not be a safe to place live inThe government seems to be firing away on all cylinders ever since the adverse Bihar election results First it was FDI then it is stalled projects now it is the pay commission report which will cost the exchequer as much as one lakh crore per annum The stock market looks at it as a golden opportunity to increase consumption as this would be higher spending power in the hands of the middle income group If this happens this could be a big kicker to boost spending and increase consumptionPolitical playersShares of S H Kelkar and Company the fragrance and flavour company listed on Monday November 16 Against an issue price of Rs 180 the issue closed at the end of the week at R 21490 a gain of Rsd 3490 or 1938 per cent In the last three weeks there have been three listings with only the first Coffee Day Enterprises doing badly and trading at a significant discount while Interglobe Enterprises is doing exceedingly well The primary market pipeline is strong From January 1 EIPO would be introduced where every applicant has to apply through ASBA This will help in reducing the time to listing to halfThis is a crucial week for the markets and key drivers would be our Parliament and the stance of various political players on discussions in the house going forward