Stock market analyst, Vishwas Agarwal stated that on the Bombay Stock Exchange (BSE) above 13,350, some trading upmoves up to 13,876 level, will be expected only on positive news from Fed meet in US.

If any encouraging news will emerge of this meeting, investors can expect short covering to happen after 2,000 points drop, but this relief recovery cannot be considered as a come back of bull trend, it’s just a relief recovery.

The Sensex continued its negative journey in today’s session (Sep 17) because of heavy selling activity seen across FMCG, metal and banking stocks, while selective buying action was witnessed in IT, auto and real estate segments.

Today, the 30-share index, BSE Sensex opened at 13,620.74, up 101.94 points, as against its last closure at 13,518.80, down 12.47 points on Tuesday (Sep 16).

At 11:04 a.m., the BSE Sensex stood at 13,386.26, down 132.54 points, after hitting a high of 13,620.74 and a low of 13,329.98.

Friday saw the Sensex falling more than 2% mainly due to decline of IT stocks. The fall is surprising, considering the rupee is depreciating against the dollar.

When the rupee weakened and closed at 45.72 to the dollar, BSE IT became the biggest index loser on Friday as it saw a fall of 4.60 per cent.

Mr Gaurav Dua, Head of Research, Sharekhan Ltd, reported, “It is the rupee’s recent appreciation against the euro and the pound which will have a negative impact on the Indian GAAP numbers of IT companies. To make matters worse, the US dollar has been appreciating against the euro and the pound, and when revenues billed in these currencies are consolidated under US GAAP, they will show a dip.”

Tokyo - Tokyo stocks gained ground early Wednesday on the US Federal Reserve's announcement to help struggling AIG insurance company.

The benchmark Nikkei 225 Stock Average surged 241.06 points, or 2.08 per cent, to 11,850.78.

The broader Topix index was also up 14.4 points, or 1.29 per cent, to 1,131.97.

The market sentiment improved after the US Federal Reserve announced that it will lend up to 85 billion dollars to AIG to prevent it from falling into bankruptcy.

Washington - The US Federal Reserve Board late Tuesday announced that it would lend up to 85 billion dollars to embattled insurance giant American International Group (AIG).

In a move to calm financial markets fearing a possible second major Wall Street bankruptcy this week, the Fed engineered an AIG bailout through a two-year loan that gives the government a stake of 79.9 per cent in the conglomerate.

"The board determined that, in current circumstances, a disorderly failure of AIG could add to already significant levels of financial market fragility and lead to substantially higher borrowing costs, reduced household wealth, and materially weaker economic performance," the Federal Reserve said in a statement.

Taipei - Taipei stocks reboun