Nifty closed higher as short covering/value buying saw banks lead the gains, as markets recovered to close with big gains as Nifty rose over 500 points. The Bank Nifty also participated and ended the day with gains of nearly 1400 points or 8%. The breadth was positive as expiry of the worst series in the history of the indices comes to a close today. Expect another day of high volatility as low volumes sees higher swings both ways.
US Market: US indices witness back to back gains as huge stimulus package approval sees stocks react positively. Last hour profit booking sees Dow Jones close with gains of 500 points after being up nearly 1300 points intra day. Bond yields see recovery, while US$ sees profit booking.
Asian Market: Asian indices opened in the red led by the Japanese Nikkei, which traded lower by 4% after 2 days of blockbuster gains. Profit booking was the order of the day even as markets consolidate after the recent bout of short covering led by Central banks huge capital infusion across the globe.