The stock markets rose dramatically with the Sensex and Nifty recording their biggest single-day gains of 442.35 and 134.85 points, respectively, in nearly five months. The 30 share BSE Sensex surged over 442 points to close at its life-time high of 38,694.11 and the broader NSE Nifty ended at a fresh record of 11,691.95, rising 134.85 points.
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Global market sentiment was also upbeat as investors welcomed US Federal Reserve’s ‘gradual approach’ to raising rates and reacted positively to the People’s Bank of China announcement that it was tweaking its methodology for the fixing of the yuan’s daily midpoint as part of efforts to stabilise the currency market.
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