Rupee, bonds recover sharply, stocks get boost on soft oil, US-China talks

Improvement in GST collections and favourable earnings posted by some companies saw investors adding to risky bets

The rupee and bonds recovered sharply and equity indices rallied on Friday as oil prices softened after Saudi Arabia warned of an oversupply. 

The rupee closed at 72.4 a dollar against its previous close of 73.5. The rupee had ended at 74 a dollar in October. The yields on the 10-year bonds closed at 7.78 per cent, down from its previous close of 7.82 per cent.

As yields fall, prices of bonds rise.

In absolute terms, the rupee's gain was the sharpest since September 19, 2013, when it had strengthened by Rs 1.6 against the dollar. The Reserve Bank of