A small recovery observed at the end of the trading session yesterday gets followed by a rally over both Sensex and Nifty ending the 4 day downfall in the markets. The 500 points rally over the Sensex came in due to the strong global support besides the support coming from the most beaten down stocks in the Indices.
Overall the Sensex gained a 2.95% jump to close at 16,524.03 points where as the NSE Nifty saw an increase of 2.81%t to end the day at 4,971.25.
Dow Jones had also closed at levels above 11,000 with the announcement of a detailed plan to leverage some money to fight the European Financial Stability Fund. Also all the major Asian Indices saw a jump from its previous close and closed their sessions in the green.
The top performer in the markets today was DLF which rallied up by 8% from its previous close. The heavy weights such as Tata Motors and JP Associates saw a jump of more than 6% each. The moment the bail out package news has crept in the markets has taken it positively and it’s expected to remain positive for sometime at least. It is further to be seen how the market performs with September closing.
Bell the Bull says: Finally after a week of red all over the Indices have shown some power behind it, Its to be seen for how long it can sustain that with the markets reacting with every other related news coming in.