S&P 500 index closes higher for second day - Nirmal Bang

U.S. stocks rose, sending the S&P's 500 Index higher for a second day, as China's cash crunch eased and slower-than-forecast economic growth fueled speculation the Fed Reserve will maintain stimulus.

Asian stocks rose for a second day after slower-than-estimated growth in the U.S. economy stoked speculation the Fed Reserve may hold back from reducing stimulus.

Sensex fell sharply to hit the lowest level of the day as rupee breached psychological support of 60 per dollar as institutional investors' exited Indian markets for the US dollar. The partially convertible rupee was at 60.26 per dollar, down 60 paise or 1.01% against its previous close. Brokers said the selling pressure sparked soon after the rupee falling to record lows in forex markets on reports of heavy capital outflow from equity markets. Market is expected to open on positive note and likely to remain strong during the day. Any intraday correction should be used as a buying opportunity.

Source : Equity Bulls

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