Equities were on recovery mode as domestic funds stepped in to pick up battered heavyweights. However, financial stocks continued to be under pressure given the negative sentiment in global markets. Auto stocks bucked the trend in anticipation of festival demand.
Meanwhile, stocks in Europe and Asia retreated after Standard & Poor's and Moody's Investors Service cut debt ratings for American International Group Inc, threatening efforts to keep the company afloat.
Tuesday, September 16, 2008
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