US stimulus, secure yields deliver reduction rally to Sensex

Domestic markets on Monday staged a reduction rally on the again of the US stimulus bundle, secure bond yields and the marginal development in GDP numbers. After the 1,939-point fall on final Friday, the benchmark Sensex rose 750 factors, or 1.53 per cent, to 49,849.84 and the Nifty50 gained 232 factors, or 1.6 per cent, to 14,761.55 on shopping for assist.
Analysts stated the progress on the US stimulus bundle and stability in bond yields triggered a rebound. The rupee dropped by 8 paise to shut at 73.55 in opposition to the US greenback on Monday, extending its falling streak to a 3rd day.
At 11:25 a.m. ET, the Dow Jones Industrial Average rose 685.37 factors, or 2.22 per cent, to 31,617.74 and the S&P 500 gained 86.63 factors, or 2.27 per cent, to three,897.78.