Markets recover after war fears
Mumbai: Indian bourses, after an eight-day fall, took an about-turn in 24 Mays trading, with the BSE Sensex rising sharply by 141.5 points on hopes that a war between India and Pakistan may not happen.
The mood in the market turned optimistic following Prime Minister A B Vajpayees statement. Securities prices also rallied by around 1-1.5 paise in a buoyant market. The rupee recovered to end at 48.9850/9950 from the previous close of 49.0550/0650 on dollar sales.
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Attack fears send US stocks sliding
New York: Stocks slid in very thin trade on 24 May, with the New York Stock Exchange clocking its slowest day of the year as investors faced renewed fears of more attacks on America and signs of economic softness.
Also dominating investor thinking ahead of the long holiday weekend were concerns over soft demand that dogged chip gear giants like Applied Materials and a weaker reading on US economic growth, which rattled some investors.
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