The contemporary market scenario has created panic in all industry sectors including the general masses. The situation is not yet stable with one shocking news or another capturing one and all, be it the Satyam mayhem or Nortel bankruptcy. The electronic and print media since the last quarter of the last year has been primarily focusing on business news, bringing the latest news coverage in front of the masses.
As per business news India, even the inflation rate is declining, and the buying has gone strong on certain sectors hemming in banking, oil & gas, capital goods stocks, and metal. The IT market is currently the greatest losers, both nationally and internationally after the downfall of two great IT giants—Satyam and Nortel. Business news India also portrays on how Wipro, Infosys, Tata Consultancy Services and few small business IT firms further witnessed a downslide as they were vendors to Nortel. Reliance, JP Associates, Sterlite Industries amongst others that observed a downfall few days back are gainers. Business news revealed the inflation rate declining at 5.24% after its peak of 12.91% six months back. Although the RBI has declared lower interest rates, credit cuts, reducing repo rate by 100 basis points, reducing CRR to 5%, and other measures to help investors and companies fight recession, yet with the high decline which is further expected to go down, it is going strict in the implementation of its policies. The RBI, as revealed by India business news, is going strict, making it compulsory for banks to report of their cash balances every Friday.
Deepening crisis in the US markets has affected the world market as a whole. Business news India, however aired mixed responses on the Indian context. With corrective measures, duty cuts, stimulus package and other steps taken by the government, India is looking forward to a positive growth. As per latest news, the current situation is not as panicky as those during November last year. The market is gaining grounds with rise in one sector and fall in another and vice versa.