The Sensex opened with a significant positive gap of 685 points at 17,415 on the back of an emergency 75 basis point rate cut by the US Federal Reserve. After extending gains in the initial trades, the index pared gains and touched a low of 16,951 owing to nervousness among market players. The index, thereafter, steadied and moved up smartly on the back of all-round buying.The index rallied to a high of 17,997 - up 1,267 points from its previous close - in the process the index recovered its biggest-ever intra-day gain.Some profit taking towards the end saw the Sensex pare gains and finally settle (provisional) at 17,662 - up 932 points. Thus, the index today broke its seven-day losing streak where the index had shed 19% (4,097 points).
