Finally the US Senate passed the 0 billion bailout bill which is supposed to bring new life into the sluggish credit markets. The bailout bill was approved by a 74-25 margin. On the top of the bailout bill, the congress has also has added a tax cut and extended federal protection
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Finally the US Senate passed the 0 billion bailout bill which is supposed to bring new life into the sluggish credit markets. The bailout bill was approved by a 74-25 margin. On the top of the bailout bill, the congress has also has added a tax cut and extended federal protection for bank deposits.Does it come as a surprise to you? I guess no. Most of you must have thought that this would happen tomorrow if not today. The good part of the story is that the US senate acted on this bailout bill very quickly and passed it also. The 0 billion is going to bring new life to many financial institutions is the US and of course, the bailout bill will also have an impact on the world markets, a positive impact hopefully.Our markets, The BSE Sensex and the Nifty are closed today on the occasion of Gandhi Jayanti, but yesterday we saw some up move and the stock markets closed in the green. Nifty closed about 30 points higher and the Sensex closed at 13055 which is almost 195 points higher.Although the Indian markets have a bright future, the markets are going through a bearish mood because of the happenings in US and in some other parts of the world. Now the elections to come, I hope we would again enter into a Bull Phase which will last longer than the earlier!Thanks for reading,Happy trading
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