Market on Friday

SEBI meeting Outcomes are mix.

Highlights of M Damodaran's announcements at the Sebi Press Conference:

• Sebi board cleared proposal to have a separate exchange for SME Segment
  
• Date of calculation of AUC will be Sept 30
  
• Sub accounts not to be allowed to issue PNs
  
• PNs can't be issued with ODIs as underlying
  
• FIIs shall not issue P-notes as underlying as derivatives has been approved
• Current position to be wound up within 18 months
  
• Board has decided further issuance of P-notes by sub accounts of FIIs to be discontinued with immediate effect
  
• Sub accounts issuing P-notes have applied for registration of FIIs: Sebi
  
• Until a final decision is taken on their being FIIs, sub accounts can continue as normal
  
• Both proprietary and corporate sub-accounts will be allowed to do business till final decision is announced.

Market Already react what he react in past.,So market on friday may be volatile,But be positive in this market.Nifty has short term target of 6000.

Stock to Buys : JSW steel,Reliance petro.