Markets breathe easy after 7 days; global cues lift mood
February 08, 2018  17:04
Domestic equities today heaved a sigh of relief after corporate earnings and Asian markets optimism broke the seven-day losing streak, with benchmark indices Sensex and Nifty ending in the green.


The BSE flagship index Sensex jumped over 330 points, or 0.97 per cent, to close at 34,413.16 -- its biggest single- session gains in two weeks. The 30-share pack had lost 2,200.54 points in the last seven sessions amid negative domestic and global cues.


The NSE Nifty too recovered over 100 points, or 0.96 per cent, to end at 10,576.85. An emergence of value-buying in recently battered banking counters as also pharma and IT stocks revived optimism on domestic bourses.


Also, investor sentiments got a boost from improved outlook on economic growth and falling crude prices. Brent crude futures tumbled to a six-week low of USD 65.16 per barrel. A fall in crude prices is seen as positive for India, which imports most of its oil requirements.
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