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Reply #49: Sensex rallies 360 pts on positive global cues [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-01-11 09:49 AM
Response to Reply #26
49. Sensex rallies 360 pts on positive global cues

MUMBAI: The Bombay Stock Exchange's Sensex witnessed a sharp pull-back rally on the back of positive sentiments in global equities after the world's top central banks pumped in liquidity to provide support to crumbling European financial system.

However, the benchmarks ended off day's highs as cautious traders resorted to profit booking after the benchmarks hit intermediate resistance levels.

According to analysts, the relief rally triggered by monetary easing may not last long as the pain is not out of the system yet.

"(Problems in Europe) It is not over as yet. The pain was shifting from the banking system to the real economy very quickly and to that extent they had to do something which is what they have done.
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