Market bounces back in early trade

Mumbai, 23rd Jan 2008 : The Bombay Stock Exchange"s benchmark Sensex opened 685.32 pts up at 17,415.26 while the NSE Nifty opened 3.75 pts up at 4903.05 on January 23.

Relief rallied across the globe after US Federal Reserve's sharpest interest rate cut by 75 base points is likely to give a leg-up to Indian equities. The Federal Reserve announced an emergency inter-meeting rate cut on jan 22 and gave indications that it will lower rates further.

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