Worldwide stock market rally on Fed’s meeting ahead

Monday October 29, 2007


The Asian market were on rollercoaster movement today which was mostly impacted by Friday’s strong ending on Wall Street and ahead of Fed’s meeting this week. All the major indices amongst the Asian pack made a significant positive ending lead by Hang-Seng 1000+ points gain and Sensex gained almost 600+ point and end at its all time high. European markets were also open on strong positive note, rising for the third session in a row.

Australian market ASX 100 end 1.35% at 5495, Japanese market Nikkei end 1.17% higher at 16,698, Hang-Seng end 3.89% at 31586 and Indian market Sensex end 3.82% at 19977.67.

The Indian markets seen another milestone after Sensex touching all time high at 20,000 marks. The Reliance pack leaded this rally followed by L&T and ONGC. Today gain was third biggest single day absolute point for the Sensex. All the major indices showed solid performance.