The sensex railled 386 points on friday,reserving a two season slide as global markets rallied and the rupeewitnessed a strong recovery on suspected interventaion by the RBI in the forex market.....
The stock market was alsohelped by short coverting late in the session by speculators...
rIL,ITC and HDFC contributed the most to the sensex rally, whileHDFC bank and Indusland bank were the laggards,
End of sessiondata on the BSE showed that dimestic funds led the buying with a net inflow of Rs 2,263 crore , while foreign funds were net sellers at RS 157 crore....
In the forex market ,the rupee ended the quarter at 68.47 to a dollar_ 32paise stornger than its previous close of 68.79_ on the back of againing euro against the US currency,
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Dealers were also reassured of support for the rupee from the RBI and the goverment,which lifted sentiment,....
The central bank,s data showed thet its support for the rupee has caused a small ersion in India,s foreign exchange reserves ,which dipped nearly $2.3 billion to $408 billion during the week ended june 22......
Finally Finance minister said his comment came a day after the rupee had breached the 69mark against the US dollar for the fast time.......
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