New Delhi, Sep 25 (TIWN): The week gone by saw markets gain on the first two days of the week and then lose on the remaining three days. The selling pressure was quite a bit and the losses at the end of the week were substantial.

FED raised interest rates by 75 basis points on expected lines. The new rate band is now 3.00-3.25 per cent and the FED is on track to have an interest rate of around 4.4 per cent by the end of calendar year 2022. There would be two more meetings in November and December. The impact of this rate hike would be felt on credit card debt, automobile loans, mortgages and variable rate loans. Very clearly this would hit the common American as they typically live on credit card spends and EMI's.  There are no primary issues in the week ahead. We are probably going to see some action from the first week of October onwards. Shares of highly subscribed Harsha Engineers International would be listed on the bourses on Monday the 26th of September. The issue was subscribed a massive 74.7 times. This is a record under the new guidelines effective from 1st September where ASBA or blocking of funds is to be done on the same day. This was to prevent the large scale of applications being returned as their funds would not be blocked.  This brings us to an interesting observation and action point by SEBI. With blocking of funds happening within the bidding period, there is no reason for shares to list on the sixth working day after closure of the issue. It should certainly happen by the fourth day and thus save two days in the cycle. This would reduce price manipulation post closure of issue and also help in reigning in rampant speculation. Hope SEBI in its next meeting slated for the September month end does take up this point for consideration.  The week ahead sees RBI meet for its monetary policy meeting between the 28th to 30th of September. A rate hike is imminent but the jury on how much is not yet clear. Considering the fact that every Central Bank across the globe who has met has raised interest rates, expect RBI to do so in the range of 40-50 basis points.