The domestic market made a strong opening, though not a big rally as was being anticipated after the stimulus packages, both fiscal and monetary.

The announcement on a popular business TV channel that the government may announce the second fiscal stimulus package after market hours today boosted the indices.

Domestic equities market in noon-trades sees range as overseas cues were absent as global markets were closed for New Year. The slid in the inflation rate has once again lifted hopes of a rate reduction by the Reserve Bank of India, which boosted interest-sensitive sectors like metal, realty, consumer durables and banking.

Markets have picked up after the afternoon trades dismissing feeble signals from the equity markets across. The FTSE and the CAC index have dipped from their day’s high’s slipping over a percent.