MARKETS BOUNCE BACK AS RUPEE RECOVERS, WPI FALLS

The equity markets staged a spectacular rally on Friday gaining close to two per cent, as hopes about a rate cut by the RBI amidst falling inflation and stability in the currency market triggered fresh buying. Reports about the government mulling a two- day special Parliament session to pass the GST bill also buoyed investors sentiment.

The Sensex scaled above its psychological 28,000- level mark to end the day at 28,067.31 gaining

only institutional investors and HNIs, as Sebi feels that small retail investors need to be safeguarded against a higher level of risks associated with this platform.

Sebi has kept the minimum trading lot and the minimum application 517.78 points, its single biggest day gain since May 8, 2015 while the Nifty marked its single biggest day gain since January 15, soaring 162.70 points or 1.95 per cent to close at 8,518.55. On Friday, the partially convertible rupee closed the day at 65 per dollar.

“The Indian rupee’s recovery from its 23month low and fall in WPI helped the domestic equity markets to regain their winning momentum,” said Deven Choksey, managing director, K. R. Choksey Securities.

size at ` 10 lakh so that only sophisticated and large investors come in.

The companies can, however, graduate to the main platform later and the small investors can also invest at that time. There are expectations that a large number of