Fresh buying in rate sensitive sectors by foreign institutional investors (FII) helped the benchmark Sensex snap its three-day losing string as it surged by 351.61 points to 22,628.84. Backed by strong performance from equity markets, rupee also rose by 8 paise to close the day at Rs 60.29 per dollar.
As per experts, markets surged after information technology companies posted robustquarterly results and FIIs again initiating buying in beaten down stocks. The gain comes after the Sensex tumbled by 438.10 points in the previous three sessions.
The broader index Nifty also bounced back by 104.10 points and ended the session at 6,779.40.Buying was seen across-the-board as all 12 sectoral indices closed the day with gains. Small and mid cap counters also witnessed strong buying support from investors, with midcap and smallcap indices gaining 1.47 per cent and 1.43 .