Mumbai: Yesterday was a day of relief in the stock market after seven days of continuous decline. Sensex jumped 1,016.96 points. It rose as high as 1312.67 points during the trade. 57,426.92 points at the end of trade. Nifty rose 276.25 points to close at 17,094.35.
The Reserve Bank raised interest rates by 50 basis points and announced that inflation will reach a comfort level from January onwards, which will be reflected in the market. Meanwhile, most markets in Asia, with the exception of Hong Kong, recorded declines. Yesterday, the rupee gained 33 paise to touch the level of 81.40 against the dollar. It was as high as 81.17 during trading.