Indian Stock Markets opened strong on Monday and most Sensex stocks are trading with decent gains. Indian Banking system is safe compared to the banking systems in the United States and Europe. Indian Banks have declared their assets to be safe. ICICI Bank has announced that there is no liquidity problem and their banking customers should not act on rumors.

Finance Minister, in a statement issued before the market opening on Monday said, “We must remain confident and respond to the situation in a cool and mature manner. We must banish fear.”

Indian Stock markets opened firm on Monday and were trading nearly 6.9% higher at 1.03 p.m. IST. BSE Sensex was trading higher by 728 points at 11,256 while NSE Nifty was trading with a gain of over 200 points.

KV Kamath said in a statement that ICICI Bank is among the soundest bank globally. ICICI bank has filed a FIR over the malicious SMS regarding the condition of ICICI Bank and recent stock decline. ICICI Bank stock was up by more than 20%.

Among major gainers were ICICI Bank, HDFC Bank, PNB and other banking counters. Satyam Computers, Rolta, TCS and Infosys were trading with huge gains compared to previous close. Indian Markets are expected to close strong as the European markets have opened firm. All Asian markets were trading positive as well.