Monday Market Monitor

* Global growth indicators point to significant contraction while global inflation is sliding down.
* Global Equity markets ended the week 3% higher.
* Indian stock market gained about 8% as monetary and fiscal stimulus boosted the market sentiment.
* Bond market continued its rally. On Friday, yields touched a low of 6.04% with expectation of further rate cut as inflation continued declining and industrial production turned negative for the first time since 1993.
* INR gained 2.4% last week due to large unwinding of offshore long-dollar positions as well as purchases by foreign investors.
* Crude rebounded last week as OPEC announced a sharper production cut; oil has lost about two-thirds of its value over the last five months.