Markets rebound after seven-day losing streak; Sensex zooms 1,000 pts

More than the monetary policy decision, the RBI's assessment of inflation and growth propelled the markets, said experts

India’s benchmark indices rose sharply on Friday, snapping a seven-session losing streak, as the rout in global equities and bonds showed signs of ebbing. Lack of negative surprises in the Reserve Bank of India’s (RBI’s) monetary policy and a benign outlook for inflation also aided sentiment.

The Sensex began the session in the red, but rose after the monetary policy announcement to close at 57,427, with a gain of 1,017 points, or 1.8 per cent. The Nifty surged 276 points, or 1.6 per cent, to settle at 17,094, capping a tumultuous week.

The Sensex finished the month with a decline of 3.5