New Delhi, Dec. 14 -- Ticker is a weekly newsletter by Vijay L Bhambwani. Subscribe to Mint's newsletters to get them directly in your email inbox.

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Last week, I wrote that a weakening rupee was casting a shadow on bullish sentiments. A 'Santa Claus' rally was possible only after the Nifty closed sustainably above the 26,325 threshold. The bulls failed to meet this precondition, and the markets surrendered ground for the second consecutive week. The rupee slipped further against the US dollar (which ironically was weakening itself) and unnerved bulls. According to media reports, leading bankers have assured big-ticket depositors that fixed deposit rates will not fall despite rate cuts, which means the cost of funds will rema...