Stocks seen ranged; soft opening likely

Another day of consolidation is likely on Friday as global markets retreated as inflation concerns flared after the US Federal Reserve  Pick stocks on fundamentals Fiscal & revenue deficit Short-term plans are safe bets Five facts on stock falls Volatility: Bet on big guns unveiled plans to spend $300 billion on long-dated Treasuries.  US stocks fell on Thursday on concerns that the Federal Reserve's latest efforts to stem the US recession are too costly and untested, prompting investors to book profits on bank shares after the recent sharp rally.  Investor sentiment remained jittery on the implications of the Fed's action to pump another $1 trillion into the financial system and a plan to expand its consumer and small business lending program, fearing the moves could stir up inflation in the long  term.  The Dow Jones Industrial Average fell 85.78 points, or 1.15 per cent, to 7,400.80. The Standard & Poor's 500 Index lost 10.31 points, or 1.30 per cent, to 784.04 and the Nasdaq Composite Index shed 7.74 points, or 0.52 per cent, to 1,483.48.  Equities in the Asia-Pacific region were trading mixed as investors tried to digest the US Federal Reserve's decision to buy Treasury and mortgage-backed debt by printing money. Surging commodities and a weakening dollar could signal that investors worry the Fed's plan could spark inflation. The Shanghai fell 0.37 per cent, Hang Seng lost 1.19 per cent and Straits Times shed 0.21 per cent.  Back home, a session marked with high volatility Thursday finally ended in favour of the bulls with key indices closing above psychological levels. Alternate bouts of buying and selling kept the market buzzing with action through the day.  National Stock Exchange’s Nifty ended above the crucial level of 2800; at 2807.15, up 0.45 per cent or 12.85 points. The index moved in a range of 2822.25 and 2771.35.  Bombay Stock Exchange’s Sensex settled at 9,001.75, up 25.07 points or 0.28 per cent. The index swung in a 100-point band through the day. Source: ET