Monday, May 10, 2010

SENSEX SURGED ALONG WITH GLOBAL MARKETS

Indian markets saw biggest rally yesterday. The 30-share BSE Sensex closed at 17330.55, up 561.44 points and the Nifty rose 175.55 points to settle at 5193.60, which touched 5200 in late trade. All the global markets were upwards after European Union and International Monetary Fund (IMF) agreed a massive rescue package to control Greece's debt crisis spreading to other Euro zone countries.

The European Union ministers agreed an emergency aid worth 500 billion Euros (USD 670 billion) of loans and loan guarantees to any euro zone countries needing funds, plus about 250 billion Euros from the International Monetary Fund.

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