Fresh buying institutions from lower levels and considerable stop in selling from domestic institutional investors (DII) helped the benchmark Sensex rebound from it four- month low and ended Friday’s session 173.47 points up at 20,366.82.
Nifty also surged by 47.25 points to 6,048.35 as buying emerged towards the end of the session in information technology, oil & gas and technology shares. Rupee also rebounded and appreciated by 49 paise before finally closing at its three- week high of Rs 61.93 per dollar.
Analysts said that the market situation also improved after wholesale price index (WPI) in January fell to a seven month low of 5.05 per cent. With WPI showing signs of easing, hopes of rate cut by Reserve Bank of India increased, analysts added. Sensex registered its biggest gain since the 256.61-point jump on January 15.