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It was Diwali week without fireworks at the stock markets. The Sensex lost 1,070 points or over 5 per cent for the week and the Nifty followed suit losing 270 points in the process.

Spells of high volatility cannot be ruled out as the market tries to breakout in either direction. With the US Federal Reserve Chairman, Ben S Bernanke, admitting that his country’s economy is likely to slow down this quarter, worries cloud investor sentiment given the strong economic linkage between the US and India.

Investors may not read much in that inflation has dipped to 2.97 per cent for the week ended October 27. With crude oil prices nearing $100 per barrel, any hike in domestic fuel prices is likely to be reflected in the inflation data later.

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