- India’s central bank surprised the market with an early-morning rate cut today in a move to help improve growth in Asia’s third-largest economy.
- Stocks, bonds and the rupee surged after Governor Raghuram Rajan lowered the repurchase rate to 7.75% from 8%, the first rate reduction in nearly two years, as lower food and oil prices cooled inflationary pressures.
- India's NSE index is up 2.7%.
- ETFs: EPI, INDY, SCIF, PIN, INDL, INP, INXX, INDA, SCIN, ICN, INR, SMIN, INCO