Key benchmark indices surged as a weaker-than-estimated US jobs report eased concern that the US Federal Reserve may accelerate the pace of stimulus cuts. Fed's bond-buying program has been a source of liquidity for most Asian and emerging markets in recent years. India has been one of the biggest beneficiaries of foreign capital flows. The barometer index, the, S&P BSE Sensex, reclaimed the psychological 21,000 mark. The Sensex and the 50-unit CNX Nifty, both, settled at their highest level in nearly two weeks.
Nifty post it's biggest daily gains this year, still advances 607 and decline 635, which gives little skeptical picture of this bull strength. On BSE, 1,397 shares fell and 1,333 shares gained. The market breadth, indicating the overall health of the market, was negative.
More to read : The Economic Times