Indian equity markets zoomed over two per cent following positive cues from global markets and short covering on account of derivatives expiry. While the S&P BSE Sensex gained 516.53 points (2.01 per cent) to 26,231.19, the CNX Nifty ended up 157.10 points (2.02 per cent) at 7,948.95.
“The markets remained in the positive zone on Thursday due to improved global conditions and on speculation that US Fed may keep rates unchanged. Also the short covering ahead of the August F&O expiry supported the markets,” Geojit BNP Paribas Financial Services Head Research Alex Mathews said.
Asian stocks rose on Thursday, with Shanghai leading the gains after a rally on Wall Street cheered investors and eased fears of a deep and lasting global market rout.Comments from a senior US Federal Reserve official that the case for a rate rise in September had weakened and upbeat durable goods data also boosted sentiment, pushing up the dollar.Shanghai led the charge, closing up 5.34 per cent, or 156.30 points, at 3,083.59, while Hong Kong gained 3.60 per cent, or 758.15 points, to close at 21,838.54.