 "Robust indicators and strong global cues lift benchmark indices")
The benchmark indices rebounded on Monday, rising 1.4 per cent, after three consecutive days of declines buoyed by interest in IT and banking majors, optimism surrounding manufacturing data, and favourable global cues. The benchmark Sensex rose 831 points and closed at 60,138, while the Nifty rose 258 points to close at 17,946.
The indices had fallen sharply last week due to institutional selling and downgrade by some foreign brokerages citing valuation concerns. However, data on India’s manufacturing activity released on Monday brought some cheer.
The purchasing managers’ index (PMI) rose to 55.9 against 53.7 in September. This came on the back of
