Ben
Bernanke blinked and markets across the world surged. Having plummeted
more than most when the US Federal Reserve warned about unwinding its
stimulus programme, Indian stocks soared and the rupee staged yet
another strong revival, reflecting the stunning turnaround in outlook
for foreign inflows into the country after the Fed’s surprise decision
not to call time on a yearlong monetary easing programme. Bank stocks
catapulted to new highs led by ICICI Bank and State Bank of India and
foreign investors streamed back into the market, buying equities worth
more than Rs. 3,500 crore on Thursday, one of the biggest single-day shopping sprees so far this year..............
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