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US stimulus, stable yields bring relief rally to Sensex

Analysts said the progress on the US stimulus package and stability in bond yields triggered a rebound. The rupee dropped by 8 paise to close at 73.55 against the US dollar on Monday, extending its falling streak to a third day.

By: ENS Economic Bureau | Mumbai |
Updated: March 2, 2021 3:54:37 am
After the 1,939-point fall on last Friday, the benchmark Sensex rose 750 points, or 1.53 per cent, to 49,849.84 and the Nifty50 gained 232 points, or 1.6 per cent, to 14,761.55 on buying support.

Domestic markets on Monday staged a relief rally on the back of the US stimulus package, stable bond yields and the marginal growth in GDP numbers. After the 1,939-point fall on last Friday, the benchmark Sensex rose 750 points, or 1.53 per cent, to 49,849.84 and the Nifty50 gained 232 points, or 1.6 per cent, to 14,761.55 on buying support.

Analysts said the progress on the US stimulus package and stability in bond yields triggered a rebound. The rupee dropped by 8 paise to close at 73.55 against the US dollar on Monday, extending its falling streak to a third day.

At 11:25 a.m. ET, the Dow Jones Industrial Average rose 685.37 points, or 2.22 per cent, to 31,617.74 and the S&P 500 gained 86.63 points, or 2.27 per cent, to 3,897.78.

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