DALAL STREET face :-
INDIAN BENCHMARKS Indian shares rose 1 percent, snapping a seven-session losing streak as lenders rallied after the central bank governor announced bond purchases. Shares also tracked a regional rally after U.S. Federal Reserve Chairman nominee Janet Yellen said the Fed has "more work to do" to help the U.S. economy, spurring hopes she would opt to delay tapering of monetary stimulus if her confirmation is approved by the U.S. Congress.
Data on Thursday showed India's headline inflation accelerated to an eight-month high of 7.0 percent in October, raising the prospect of a fresh rate hike despite the central bank governor's soothing words on Wednesday on core retail inflation.
The INDIAN BENCHMARKS, SENSEX ended UP 205.02 points or 1.02% at 20,399.42 and the 50-share NIFTY closed 66.55 points or 1.11 % UP at 6056.15
GLOBAL MARKET chase :-
ASIAN STOCKS rallied, As Nikkei posting its best week this year with other bourses joining the fray on expectations the Fed Res will keep its stimulus programs at current levels for the near term.
U.S. STOCKS rose on after weak U.S. industrial production data preceded by dovish statements delivered by Federal Reserve Chair Nominee Janet Yellen to Congress.
EUROPEAN STOCKS mixed to lower on Friday, as Thursday's downbeat economic data out of the euro zone continued to weigh.
Week ahead :-
INDIAN INDICES with reporting of July-September earnings results largely over, the focus will now shift to a series of state polls this month ahead of the general elections next year. Results for all state elections will not be announced until Dec. 8.
Traders will also be looking closely at global cues amid fears of an early end to Federal Reserve tapering.
Investors will also be eyeing the prospect of additional central bank purchases after the RBI plans an 80 billion rupees ($1.26 billion) OMO for Nov. 18.
