Markets are witnessing huge buying interest following surge in global markets led by banking stocks as US government is considering measures to rid financial firms from this debt trap and to end this credit crisis. The Sensex got back above 14000 mark while the Nifty is holding above 4200. Buying is seen in realty, technology, telecom, banking, capital goods, power and oil stock!!
Arun Duggal , former CEO (India) of Bank of America, believes that the concerted efforts being made by global central banks are important to stabilise markets. "There has been a lot of bad news which has come out in the open. We can’t say that it is all over. Perhaps there will be some more bad news, and some further action is required in the next few weeks or months. We are well on our way to looking at the resolution of this problem.”
Tomi Dcruze,CEO
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