The document provides an analysis of global and Indian markets and economic events from September 16-20, 2013. It summarizes that: - The US Federal Reserve decided to postpone reducing its bond buying program, which boosted global markets. However, tapering is still expected to begin in the coming months. - In India, the RBI cut its MSF rate but unexpectedly raised the repo rate, causing bond yields to rise briefly. The rupee has stabilized around 62 against the dollar after appreciating over 10%. - The analysis remains positive on Indian equities, believing the worst is behind the markets. It maintains a Sensex target of 22,400 by the end of the fiscal year.