Its obvious that the NSE has been a huge beneficially of the FED Stimulus Program referred to as QE3,where the FED bought 85 Billion dollars worth of government bonds.

Activity at the Bourse has witnessed immense outflow of foreign investors with most of the activity by foreign investors being sell-side actions last week and yesterday.

The Local investors on the other hand are purchasing most of the stock in a local driven rally. If we have a successful Eurobond sale, we are bound to see an extended local driven rally.Otherwise most of the stocks will correct.

Globally, the expectation of the FED taper has sent many markets into Turmoil with Turkey, SA, Argentina currencies in the gutter.

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