ASIAN MARKETS bounced back sharply from after a prolonged bear market rally and still struggling to find a bottom. Indian Markets had field day with FRONT LINE stocks rallying nicely. News from RBI pepped the Markets up today and would still need to wait for a Interest Rates from most of the Banks.
Liquidity is eased and CRR/SLR are slashed and with a 40,000 Crore injection, the RBI has set a direction towards driving the markets on a UPWARD path with focus on bringing down the inflation rate to 9% by March as well as restore the confidence of the FIIs to come in and Play with the Bulls.
Markets are powered by the statement issued by the Group of Seven (G7) issued in its meeting in Washington DC addressing the ongoing financial crisis. According to the statement released, the G-7 agreed that the current situation calls for urgent and exceptional action.
In India, the domestic markets showed no sign of weakness today gaining consistently almost throughout the day on firm global equities. The BSE Sensex provisionally climbed 7.58%. Finance minister P Chidambaram's statement that the government was working on more measures to infuse liquidity in the banking system and increase the confidence of depositors and investors, aided the rebound in equities.
As per the provisional figures, BSE 30-share Sensex was up 808.81 points or 7.58% to 1,336.66. The Sensex surged 833.47 points at day's high of 11,361.32, in mid-afternoon trade. The index rose 289.83 points at the day's low of 10,817.68 at the onset of the trading session. The S&P CNX Nifty was up 225.75 points or 6.88% to 3,505.70 as per the provisional figures.
Finance Minister P Chidambaram today said the Indian economy continues to grow at a satisfactory rate. The finance minister also said the slide in commodity and crude oil prices will have a beneficial impact on inflation. He said the Indian services sector is growing at a brisk rate.
Liquidity is eased and CRR/SLR are slashed and with a 40,000 Crore injection, the RBI has set a direction towards driving the markets on a UPWARD path with focus on bringing down the inflation rate to 9% by March as well as restore the confidence of the FIIs to come in and Play with the Bulls.
Markets are powered by the statement issued by the Group of Seven (G7) issued in its meeting in Washington DC addressing the ongoing financial crisis. According to the statement released, the G-7 agreed that the current situation calls for urgent and exceptional action.
In India, the domestic markets showed no sign of weakness today gaining consistently almost throughout the day on firm global equities. The BSE Sensex provisionally climbed 7.58%. Finance minister P Chidambaram's statement that the government was working on more measures to infuse liquidity in the banking system and increase the confidence of depositors and investors, aided the rebound in equities.
As per the provisional figures, BSE 30-share Sensex was up 808.81 points or 7.58% to 1,336.66. The Sensex surged 833.47 points at day's high of 11,361.32, in mid-afternoon trade. The index rose 289.83 points at the day's low of 10,817.68 at the onset of the trading session. The S&P CNX Nifty was up 225.75 points or 6.88% to 3,505.70 as per the provisional figures.
Finance Minister P Chidambaram today said the Indian economy continues to grow at a satisfactory rate. The finance minister also said the slide in commodity and crude oil prices will have a beneficial impact on inflation. He said the Indian services sector is growing at a brisk rate.
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