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BEARS ON TOP
The Indian markets were completely under rough weather after a freefall in US markets. Crude prices are at a all-time high and a likely subsequent impact on Indian inflation has spooked the markets.
Mkts get buying support from metal, oil & gas, capital goods and power stocks.
Sensex and Nifty have hit new-2008 lows following CRR, repo rates hike
Midcap and small cap indices are also flat. The Nifty is still trading below 4300 mark.
There are reports that RBI may hike repo rate and CRR by 50 bps each.
RIL, telecom firms, banks bear the brunt of investor despair.
Experts are expecting inflation around 9.93 per cent for the week.
Midcap and small cap stocks are trading in positive terrain.
Strong trading in European markets also helped Indian markets.
At 1035 hrs IST, the Sensex was down 10.82 points at 15,385.
