Sensex rebounds 2.9%
1 min readDomestic inventory markets on Friday rallied by 2.9 per cent aided by sturdy international cues. Led by RIL, the benchmark Sensex soared 1,534 factors to 54,326.39 and the NSE Nifty index rose 457 factors to 16,266.15 amid throughout the board shopping for assist.
However, LIC shares fell by one other 1.72 per cent to Rs 826.25. RIL shot up by 5.77 per cent to Rs 2,622.15.
“The market displayed a confident yet calm rally throughout the day, supported by fortified global markets, especially the Asian market. The Chinese Central bank cut a key interest rate to support growth, injecting optimism into emerging markets,” stated Vinod Nair, head of analysis at Geojit Financial Services. On Thursday, the Sensex fell 1,416 factors. Broader markets rose as nicely.
On Wall Street, the S&P fell 20 per cent from its January 3 file excessive on Friday. At 2:48 pm ET, the Dow fell 434.20 factors, or 1.39 per cent, to 30,818.93 whereas the S&P was down 79.44 factors, or 2.04 per cent, at 3,821.35.
