Benchmarks rally most in nineteen months
Driven by fall in crude prices and recovery in the rupee, the BSE Sensex on Friday posted its biggest single-day gain in 19 months, as global markets rebounded after two straight sessions of losses.
The rupee strengthened 53 paise to 73.59 (intraday) against the dollar.
Investors lapped up recentlyhammered auto, realty, metal, oil and gas, FMCG, banking, power, infra, IT, auto, and capital goods stocks amid fund inflow by DIIs ahead of the release of key IIP numbers for August and inflation data for September.
Bear operators, who had been creating short positions in the past several sessions, were seen covering up positions, brokers said.
Maruti Suzuki was the biggest gainer among the Sensex pack, rising 5.89 per cent, followed by M&M up 5.29 per cent.