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European markets fell sharply Tuesday after Eurozone finance ministers said last night that they will wait until later in October than previously thought to decide whether to extend more aid to Greece.

Faiure of European finance ministers to tackle the region's debt crisis was one big factor, along with a rise in Hong Kong mortgage rates and a drop on Mainland markets.

Remarks by the German finance minister hurt investors' confidence Europe would soon solve its debt crisis, triggering a sell-off in Hong Kong and other global markets.

On this Budget We feel the revenue estimates, at best can be considered hopeful. Looking at the precarious economic condition and a high current account deficit, Reports sugget a lot of issues remained unaddressed during the Budget session. As far as the foreign investor's perspective is concerned, The Finance Minister has taken a positive step forward in terms of foreign direct investment (FDI) and the economic openings under his leadership have also been quite encouraging. "We are also going to see the fisc balanced in a very nice way, with an imperative as well in acceleration of divestment of some of the public sector assets of the country and that's going to drive efficiency and productivity. So, I am quite bullish on this Budget... Read Full Report here- http://www.sharetips-capitalvia.com/budget-highlights-for-financial-year-2013-14/

Finance Minister P. Chidambaram appeared disappointed over the RBI move and said the government would walk alone to face the challenge of growth. The Reserve Bank of India (RBI) Tuesday cut cash reserve ratio (CRR) for banks by 0.25 percent but kept interest rates unchanged, despite pressure from the government. Stock Tips for short term holding by optiontips.in EID Parry Current: 225 Stop Lose: 215 Target: For More Details Read on: http://www.kyachadega.com/2012/10/rbi-vs-fm-by-optiontipsin.html

Indian benchmark indices ended higher in response the balanced budget presented by the Finance Minister. Sensex was up 141.4 points or 0.5% at 29361.5, while Nifty was up 57.3 points or 0.6% at 8901.9. US stocks closed mixed, with stocks near recent highs, as concerns about oil prices and a worse-than-expected initial jobless claims figure weighed on investor sentiment. DJIA was down 81.7 points or -0.4% at 18132.7.

The Italian Parliament definitely cleared on Wednesday a 54-billion-euro emergency budget plan aimed at balancing public finances by 2013 to shield the country from the risk of a debt crisis.

Crude oil reached its lowest levels in over a year in early morning trading but you would never know it from observing the late day rally from oil and gas stocks. Shares climbed on reports of more hope in the Greek debt dispute.

Financial stocks were mixed on Friday with the major banks sliding on European debt woes and credit companies ticking higher on news of consumer confidence that outshined expectations.

The market looked to continue lower yesterday until the last hour, when an EU bank aid program was reported. European markets shrugged off Italy's three-notch downgrade and followed the U.S higher.