The Minutes suggest that there could be a possibility of accelerated end to QE3 tapering, which pushed the US markets lower.

In Asia markets were trading mixed after Chinese inflation data came in lower than expected. The Chinese Shanghai Composite was trading marginally higher along with the Hong Kong's Hang Sang. The SGX Nifty, however, suggests a slightly soft opening for the Indian markets.

The Japanese Nikkei was one of the worst performing markets today.

In stock specific action, one needs to watch out for Infosys ahead of its Q3 numbers to be released on Friday. The stock has been consistently falling in the last few trading sessions.

Again, one needs to watch out for stocks from the mid cap space, which has been seeing a lot of action on the back of hopes that foreign investors are now shifting their attention to quality midcaps. Jubilant Foodworks might see some selling pressure after the RBI said that FIIs are not allowed to buy shares in the company as the limit in the stock has been reached.

Gold loan company stocks might rise as the RBI hiked the loan to value ratio from 60 per cent to 75 per cent. One needs to keep an eye on Manappuram Finance and Muthoot Finance, two of the gold lending companies.

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