The Fed decision on its key interest rates came finally when they decided to keep the rates  steady on when it met on Tuesday. It left the key interest rate steady at 2 % in the second straight meeting. Expressing concern about inflation and economic growth in the country, they had to take such a decision. Meanwhile crude oil prices surprisingly fell below the $120/barrel mark and touched the lows of $118/barrel.

All these developments added to the already rallying US market and both DOW and Nasdaq closed huge up gaining 2.94%and 2.81% respectively. Fed said that the economic activity has grown in the last quarter, which removed some amount of fears from the mind of the traders. Reacting to this, the Asian markets have started well and Nikkei-225 is trading up gaining 2.22% already.

The Indian markets outperformed its global and Asian peers by gaining hugely during the last few hours of trading. Sensex closed 383 points up at 14,961 levels and nifty closed at 4,503 gaining 108 points from its previous close. This rally in Indian markets was mainly attributed to rise in bond prices which led to sharp rise in interest sensitive stocks like realty,auto and banking.Banking stocks closed 6.6% up,auto sector up by 4% and  realty was up by 6.5% yesterday. Some of the calls did very well with HCL Tech being the best performed call given here yesterday which closed 9.25% up.

We can expect a gap up opening today in Indian markets now which is about to start its trading in sometime. The rally will be sustained today in the markets. So a good time to trade and invest today, but keep booking profits at higher levels. So some intra day trading tips for today include: DLF(553),Indian Bank(cmp 118),JP Associate(cmp 185),First Winner Industries(cmp 154),Unitech(cmp 182),ICICI (cmp 693),Infosys(cmp 1677),HCL Tech(cmp 240),Sobha Dev(cmp 290),Omaxe(cmp 137),HDFC Bank(cmp 1184),PFC(Cmp 140),Suzlon Energy(cmp 240),GAIL(cmp 401).

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