Monday Market Monitor

* Fed and BoJ move to zero interest rate policy (ZIRP). The major economies decided to use fiscal stimulus to face the global recession.
* Indian Stock markets continued to gain for the second week with Sensex closing above 10,000 mark after 24 trading sessions. FIIs turn net buyers for the second week.
* Indian Bond market rallied on 9-month low inflation, declining oil prices and expectation of further rate cut by RBI.
* Rupee touched a new one-month high. It closed at 47.08 vs. USD on Friday, 3.3% stronger than previous Friday.
* The price of WTI crude oil fell below $40/bbl for the first time last week since July 2004.