Rs 3 lakh cr added! Sensex soars 700 points as bulls return after 3-day hiatus

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Key Points

Tracking gains from the global peers, Indian equity markets staged a smart rebound and edged higher on Friday after a three-day losing streak, led by banking, energy, and IT stocks..

The market capitalisation of all listed companies on BSE surged by Rs 2.96 lakh crore to Rs 372.45 lakh crore...

From the Sensex pack, Tech Mahindra and Wipro were the top gainers, rising 3% and 2%, respectively, NTPC, Infosys, Axis Bank and HCL Tech also opened higher, while only IndusInd Bank opened in the red...

This is partly in response to the rising bond yields in the US where the 10-year yield has risen to 4.16% and partly due to the high valuation in the Indian stock market," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services...

The Indian rupee fell 2 paise to $83.15 against the US dollar in early trade after stronger-than-expected US jobless claims data pushed US bond yields higher...

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