Led by IT, power and realty shares, home markets on Friday rallied by 1.28 per cent amid expectations of fine company earnings and financial fundamentals. The Sensex shot up 767 factors to 60,686.69 and the NSE Nifty index rose 229 factors to 18,102.75.
Positive world cues led to a gap-up opening however profit-taking trimmed positive aspects within the preliminary hours. “The momentum which was lost during the week was regained as inflation worries started fading with investors shifting their focus to good quarterly earnings, economic recovery and strong domestic macro data points … rally was led by IT, energy and realty stocks,” mentioned Vinod Nair, head of analysis, Geojit Financial Services.
The rupee gained 7 paise to shut at 74.45 towards the US greenback.
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