Mumbai, July 18: Stronger global cues and optimism about encouraging corporate earnings, in addition to revival of the monsoon helped the markets recover their post-budget losses with over 9 per cent jump in key indices.
The Bombay Stock Exchange (BSE) ended the week up 1,240.70 points or 9.19 per cent at a two-week high of 14,744.92 points from its previous week’s close.
Similarly, the National Stock Exchange’s (NSE) 50-share Nifty also rebounded by 371.05 points or 9.27 per cent to close the week ended July 18 at 4,374.95 points.
Both the Sensex and the Nifty had fallen by nearly 9.5 per cent each after the Budget disappointed investors by not announcing any big-bang reforms.
During the week, global markets remained upbeat on signs of recovery in the economy and a positive beginning of the US earnings season. The US retail sales showed growth for the second consecutive month.
–PTI