FED CUTS RATES BY 25 BPS

Market expectation of 50 bps rate cut belied and the markets around the world react. Apparently fed has bifurcated the rate cut and kept 25 bps cut for the new year. But quite candid admission by the fed that the growth condition are uncertainis a big pointer. Our markets are likely to see red by atleast
 300 points and sub 20k levels are expected.