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Market Forecast

Equities likely to remain volatile on Fed cut (The Economic Times 31th Jan 2008)The mood in the Indian stock market is likely to be volatile following a 50 bps cut in the interest rate by the US Federal Reserve and expiry of January futures. The US Federal Reserve has cut rates to 3 per cent and also hinted that rate cuts were possible in the near future. Dow Jones Industrial Average, which moved up over 100 points after the announcement, settled 37.47 points or 0.30 per cent lower at 12,442.83 and Nasdaq Composite closed 0.38 per cent or 9.06 points down to 2,349.00. Equities will also be taking cues from subdued Asian markets which remained mixed after Federal Reserve’s announcement couldn’t lift bearish sentiments. Japan’s Nikkei Average was 0.55 per cent higher at 13,417.98, China’s Shanghai Composite was 0.34 per cent up at 4,432.932 and South Korea’s KOSPI was up 0.58 per cent at 1598.35. More
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