The markets were up today, the senex up by 1075 points at 39090 and the nifty up by 326 points to 11600. There i a lot of short covering so the markets are up. Short covering means selling stocks in anticipation stocks will come down, before the Finance Minister announced the cut in corporate taxes markets were down, so market players had oversold stocks thinking that, they will come down. This has led to the markets going up as a lot of buying has taken place, as market players have sold a lot of stocks, so they are buying stocks, that is why markets are going up.