Bulls are on the rampage with the market surging for almost seven weeks in a row amid signs of improvement in the Indian economy, possibility of further reduction in interest rates with inflation at near zero. Foreign funds have been buying heavily over the last few weeks. This has seen a sudden rise in the prices of the share market. Its not only the blue chips or big caps that ruled the market. Even the mid-caps and small-caps gave good returns over the last few weeks.
On tuesday RBI cut back its key rates by 25 basis points and the inflation increased to 0.26% from the previous week 0.18%.
Wipro gave results much better than their projected revenue. This gave hopes that the IT industry is back on the revival. Wipro did a major reorganization at the start of the year which is expected to make it stronger. Also the exports made by TCS increased.
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