Equities stage relief rally, halt 7-day slide on value-buying

Domestic bourses today witnessed a relief rally as both benchmark indices Sensex and Nifty reversed their seven-day losing spell as participants went for value-buying and also encouraged by positive Asian bourses.
The flagship BSE Sensex posted its biggest single- session gains in two weeks by rising 330.45 points, or 0.97 per cent, to end at 34,413.16.
Sentiment got a boost after Brent crude futures tumbled to a six-week low of USD 65.16 per barrel. A fall in crude prices is seen as positive for India, which imports most of its oil requirements, traders said.
The 30-share barometer stayed in the green through the the session on continued buying by DIIs and retail investors and hit a high of 34,634.35.

However, profit-taking in the later part of the session, in sync with weak opening in European shares, cut down Sensex gains to some extent and finally settled 330.45 points, or 0.97 per cent higher at 34,413.16.
The index had lost 2,200.54 points in the previous seven sessions amid negative domestic as well as global cues.
Also, the broader NSE Nifty bounced by 100.15 points, or 0.96 per cent, higher at 10,576.85 after touching a high of 10,637.80 and 10,479.55.