Markets post biggest gain in two years; Maruti, M&M surge over 5%

Benchmark indices rebound sharply from six-month lows as rupee gains, oil drops

While Thursday was a day of gloom for equity markets, Friday saw an across-the-board boom. Benchmark indices posted their biggest single-day gain in over two years as the spurt in the rupee and drop in global oil prices improved investor sentiment. Globally, most markets rebounded, despite another sharp cut in US equities overnight, as a retreat in bond yields and the dollar triggered risk-on bets.

The benchmark Sensex rose 2.15 per cent, or 732 points, to end at 34,734, while the benchmark Nifty 50 gained 2.32 per cent to 10,473. It was the biggest gain for both the indices since May