Markets did nothing last week and closed with losses. BSESENSEX was down0.96% and NIFTY 1.48%. The broader indices saw BSe100, BSE200 and BSE500 lose between 1.69% and 1.75%. Markets lost on four of the five trading days.

US Fed finally raised interest rates by 25 basis points and reading between the lines of the minute’s one gets a feeling that between 3 and four rate hikes are likely in the calendar year 2017. Dow Jones closed with gains of 0.44% at 19,843.41 points. The Dow has been making a series of new highs and seems to be on a roll.

The winter session of parliament ended and very little work if any was done. Ever since the 8th of November when demonetisation was announced it’s been a series of protests, sit down’s and parliament being stalled. The president of India also commented that parliament should not be used for this and be allowed to function. It’s a shame that the nation’s resources are being wasted in this manner and important decisions be kept pending.

Markets are doing nothing having lost their momentum in the last few weeks. Going forward with not much of news flow expected it would be even tougher. It therefore makes sense to sit out the markets and wait for it to either fall sharply when stocks can be bought or around year end when some amount of NAV propping may provide exit.

Till then “have a break, have a Kit Kat”.