After a depressing start and a subsequent sharp fall, Indian equities made a smart recovery this morning on the back of some spirited buying action in some of the frontline stocks.
IT, power and consumer goods gained ground, whereas realty and banking stocks went down due to the expected rate cut not happening during the last weekend.
BSE Midcap and Smallcap index gained 0.11% and 0.31% respectively.
At 11:00 a.m., the 30-share index BSE Sensex, which tumbled to a low of 8708.85 after opening at 8840.53, rallied to 8,961.14, up 45.93 points.
The Securities and Exchange Board of India, on Thursday said that short term selling is not a cause of market meltdown. SEBI Chairman futher added that it would not stop short selling as a regulator at this point of time.
New York - US stocks surged Friday on news that president- elect Barack Obama would tap New York Federal Reserve Chairman Timothy Geithner to head the Treasury.
The Dow Jones Industrial Average and the Standard & Poor's 500 Index both gained more than 6 per cent on Friday, one day after the S&P had reached an 11-year low. The Dow hit a five-year low on Wednesday.
Madrid - Spain's stock market watchdog CNMV on Friday suspended trade in stocks of the oil company Repsol amid reports that Russian oil giant Lukoil was about to acquire nearly 30 per cent of Repsol.
The CNMV also suspended the stocks of Criteria, a holding of La Caixa bank, which admitted to being in talks with Lukoil about selling all or part of its 12.5-per-cent stake in Repsol to the Russian company.
Lukoil was also reported to be in talks with the construction company Sacyr Vallehermoso, which holds a 20-per-cent stake in Repsol.
Sacyr stocks rose by nearly 14 per cent after trading opened, on top of a 13-per-cent surge on Thursday. Repsol and Criteria shares dropped by more than 2 per cent.
After a depressing start and a subsequent sharp fall, Indian equities made a smart recovery this morning on the back of some spirited buying action in some of the frontline stocks.
India,
The Securities and Exchange Board of India, on Thursday said that short term selling is not a cause of market meltdown. SEBI Chairman futher added that it would not stop short selling as a regulator at this point of time. 
New York - US stocks surged Friday on news that president- elect Barack Obama would tap New York Federal Reserve Chairman Timothy Geithner to head the Treasury.
Singapore - Singapore shares rose Friday, making a technical turnaround on news of the government's financial support to local businesses.
