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Sensex bounces back 185 points

MUMBAI: Taking a cue from global rally, stock markets turned resilient with a bounce in the benchmark Sensex which ended 185 points up at 12389.41 on Thursday, as foreign funds staged a dramatic comeback amid a possible slowdown in the U.S. economy.

Despite Fed's concerns over inflation, the world markets rallied sharply following the substantial slowdown in the U.S. housing sector, which raised hopes of interest rate cuts in the near future.

The BSE 30-share sensitive index opened firm at 12299.21 and gradually moved upwards to the intra-day high of 12415.97 before ending the day at 12389.41, a net rise of 185.40 points. — PTI

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