It was the last of the most eagerly awaited data points from the US, ahead of the Fed meeting on Dec 15 and Dec 16. And the data came out very robust.

The Nov US Non Farm Payroll Data showed an addition of 211,000 new jobs and with it, the possibility of the first interest rates hike in the US. In Oct, the jobs data showed a blockbuster growth of 271,000 new jobs, which virtually stunned analysts.

The unemployment rate has remained steady at 5 per cent.

The last interest rate hike in the US took place on June 2006 and one has to now wait and watch its impact on emerging market stocks.

Emerging market stocks have already sold off this year and India has been a sheer underperformer.

On Friday, Foreign Portfolio Investors net sold shares worth Rs 1745 crores in the Indian markets. The net sale figures have been a trend of the last few months, on fears of US Fed interest rate hikes.

India has received solid robust inflows of foreign money, thanks to easy monetary policies across the globe. That is now set to change with the US Fed now set to hike interest rates for the first time in 9 years.

Many analysts feel that there may be a pullout of money, should the Dec 15 and Dec 16 meeting signal an interest rate hike, which is almost a done deal now.

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