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Firm Asian markets, expectations of a second tranche of fiscal sops from the government and hopes of additional interest rate cuts by the central bank to shield the domestic economy from the global economic recession, took the domestic bourses to intraday high in mid-morning trade. The S&P CNX Nifty marched past the psychological 3,000 mark. The BSE 30-share Sensex was up 236.19 points, or 2.44%.
The market witnessed a bout of volatility. After an initial surge, the market pared gains before bouncing back again in morning trade.
Indian Stock Market
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