After the RBI’s 50 basis points CRR cut, the Federal Reserve has surprised the markets by pledging to keep interest rates “exceptionally low” till late 2014. Besides, the Fed has also hinted at QE3 in future to mitigate the impact on the US from the euro area debt debacle. The Indian markets began the trading session on a positive note with the Sensex having opened at 17,201, up 124 points and the Nifty at 5216, up 58 points. Though the markets have come off their days highs, still they are trading with a positive bias. The market breadth is positive as the broader indices are also seen trading with gains of around one percent. Most of the sectoral indices are in the positive terrain, led by Metals, Teck, Consumer Durables, IT and Oil & Gas stocks. On the other hand, FMCG and Banking indices are trading in the negative.
(Pic. Source- bseindia.com)
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