Economic Statistics

The following is a table showing foreign direct investment as a percentage of GDP

for India and China.

                         Year                         China               India

                         ------                          --------               -------

                         2012                           7.51                0.95

                         2011                          10.30               1.54

                         2010                            9.09               1.23

                         2009                            9.30               1.96

                         2008                          14.37               2.70

Market Review

Markets seem to be discounting the possibility that the US Federal Reserve Bank would postpone
the tapering of its monetary stimulus program.    Markets will be watching the RBI policy meet on
Oct. 29.    The earnings season has failed to cheer the markets so far.    The juice in the current
uptrend appears to be getting over.    But for the RBI meet on Oct. 29,  there seems to be no big
negative surprises in the near future.

Given all these factors,  Nifty may remain directionless for some time.

Weekly Outlook

While the markets may have consolidated over the last fortnight,  it appears that the undertone
continues to remain positive.    Having said that,  markets may remain subdued ahead of the
earnings season.

Concerns from the USA with regards to the US government partial shutdown and potential failure to
raise the debt ceiling immediately will also keep the markets guessing in the days to come.
The USD index has already started to reflect this nervousness.