And now there's some hope starting to show up in the stock market. Sensex went up 222.59 points to 16677. More technically @ http://joerajendran.blogspot.com/

US too has had some good sign after Federal Reserve Chairman Ben Bernanke's statement on recession. Good signs all over, let this continue and people return to jobs.

The Bombay Stock Exchange benchmark Sensex on Monday closed over the 16,000-point level for the first time this year as buying in realty, metal and banking segments powered over 320-point rally on strong global cues.

The 30-share index rose by 327.20 points to close at 15-month high of 16,016.32 points, a level never seen after June 2, 2008.

The wide-based National Stock Exchange index Nifty soared by 102.50 points to 4,782.90 points.

The rally was backed by steep rise in stocks of realty, metal and banking segments on reports that shortage of monsoon rainfall might ease, improving the outlook of farm production and boosting buying in rural parts of the country.

The fag-end surge was mostly attributed to higher opening in European stock markets this afternoon.

Among the Sensex shares, 28 scrips closed with gains while ITC Ltd and Mahindra and Mahindra ended with losses.

Infosys Technologies, Reliance Industries, ICICI Bank, RCom, DLF Ltd, Tata Motors and Tata Steel were the major gainers and helped Sensex rise above 16,000 points level.

Source: The Hindu

I was watching the CNN Money Summit just a while ago and they say the current stimulus is just the down payment of the big money that needs to be pumped in to fill the big whole.

And even with the stimulus been signed by President Obama today, market went deep down today. Many people in the age of retirement has been put to dark with their pension savings washed away by this tsunami recession.

Its so scary...