After two days of sharp losses, the benchmark Sensex on Wednesday rebounded from three-week lows and closed with a gain of 139 points in line with positive global markets on hopes Fed will retain its low interest rate regime and China will pump fresh funds in banks to boost lending.
The 30-issue BSE Sensex today resumed strong in line with rally in Asian stocks and moved in positive terrain throughout the day before concluding at 26,631.29 -- a rise of 138.78 points or 0.52 per cent. In last straight two days, it had plummeted 568.53 points or 2.10 per cent.
It had registered its worst single-day drop of 324 points in nearly 7 weeks on across-the-board selling.The broader 50-issue CNX Nifty of the NSE also recovered today as it rose 42.60 points, or 0.54 per cent, to 7,975.50."Speculation that Fed would maintain its interest rates low and boost growth for now and that China's central bank will provide the country’s big banks with fresh loans – keep markets and commodities.