FM hopes markets will show same optimism as US, Asian bourses

Finance Minister P Chidambaram expressed hope on Tuesday that Indian capital markets will show the same 'optimism' as was displayed by the US, European and East-Asian markets.

"I hope that the same sense of optimism and confidence (as witnessed by the US, European and East Asian) will be visible in the Indian markets too," Chidambarm told reporters.

The US and the European capital markets closed on a strong note on Monday night, while the East Asian market staged a rally on Tuesday morning, he said.

It appears that the measures announced by various governments and central banks have not only infused greater liquidity into the markets but have also helped in restoring the confidence to a significant degree, he added.

The Bombay Stock Exchange benchmark Sensex was up 542 points at 11,851.15 in the early trade. The Sensex, on Monday recovered by over 700 points after the finance minister's assurance that more measures will be taken to infuse additional liquidity into the system.

While the Nikkei in Japan was up by over 13 per cent, Hang Seng in Hong Kong rose by about 4.39 per cent.

The markets in US too closed higher on Monday, with NYSE and NASDAQ recording gains of 10.17 per cent and 11.81 per cent respectively.