Market bounces up 236 points

After a two-day downward correction,the Bombay Stock Exchange 30-share barometer bounced back to settled the day at 17,021.85,gaining 236.20 points or 1.41 per cent over its previous close.

The market yesterday shed 213 points on fears of steps to check capital inflows into equity.

Brokers said domestic operators and Foreign Institutional Investors hectically covered short positions after comments from Ahluwalia.

The approaching expiry of derivatives series on November 26,however,caused high level of volatility in the market.

Energy giant Reliance Industries rebounded from its day8217;s low of Rs 2,051 to end 2.07 per cent higher over last close.

European markets were trading nearly 1.0 per cent higher in their early trade this afternoon.