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Indian stock market morning report by (October 1, 2008, Wednesday)

October 1, 2008

On positive cues from the US markets, the Asian markets too have opened positive today. Banking and financial stocks have led the rally. Japanese business sentiment survey turned negative for the first time in five years, indicating the Japanese economy may be in a recession. The Nikkei is in positive territory today even in a highly volatile session, partly due to the ban on short sales. Markets in China, Hong Kong, Indonesia, Malaysia, Singapore, the Philippines and Pakistan are closed today for public holidays.

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