After a few days of bearish trend, bulls fought back on Thursday as a result Sensex soared by 366 points to end at 27,274.71 and the rupee gained hefty 50 paise to close at nearly four-week high of 62.67 against the US dollar.
Stocks rose after a three-day downward trend on account of value-based buying and a firming trend in global markets on strong US data and fresh Eurozone stimulus hopes. The rupee also appreciated for the second straight session on heavy dollar selling by exporters and banks, amid talk of capital inflows. In Government bonds, India’s benchmark bond yield ended flat at around 7.86 per cent on profit-taking ahead of a auction. However, gold prices fell on sluggish demand and weak global price trends. The 30-share Sensex, which plunged to three-week low in yesterday’s trade, staged a strong comeback to reclaim the 27,000-level and settled 365.89 points, or 1.36 per cent, higher at 27,274.71.