Wednesday, December 3, 2008

Tata Steel soars in volatile market

(My Original Blog Post: -*
From:, where thousands of users are discussing about stock markets.

Congress party head Sonia Gandhi's statement that India wants peace with all its neighbours helped the market stage a rebound from lower level in mid-afternoon trade. Easier margining norms, hopes of government measures to pump prime the economy and firm Asian stocks supported the domestic bourses. But lower US index futures, weak European stocks and on concerns about the weakening global economy capped gains. The BSE 30-share Sensex was up 8.19 points, or 0.09%, recovering close to 145 points from the day's low.

The market was highly volatile and moved between positive and negative zone throughout the day. After a firm start on easier margining norms and hopes of government measures to pump prime the economy, the market shortly slipped into the red as lower US index futures, paring of gains by Asian markets and global recession worries marred investor sentiment. The market bounced back later as Asian equities regained strength.

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