Smartest Financial service house has got a support from the US Govt of $326 bn. Citi has received US govt guarantees of $306bn that will help it sell the sticky assets and irrecoverable mortgages on its books and $20bn in cash. The International Monetary Fund approved a $7.6bn bailout package to help prevent Pakistan from defaulting on its debt. IMF Financing will help rebuild its foreign-exchange reserves which shrank 75% in a year to $3.5bn.
Oil prices bounced back by around 9%. Gold too should its shine. Dow Jones closed above at nearly4%, as mentioned that the Dow has a good support at 7500 levels. Nifty too can touch 3000 levels in the bounce back.
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