Sensex jumps by 500 points
Market reports say, the rupee also rebounded from 20-month lows and hovered around 64 per dollar.
The Sensex rose above 27,000, while the Nifty jumped above the key 8,200 levels.
The rebound in stock markets comes after three days of selloff leading to fall of 900 points in the sensex.
The rebound is being attributed to short covering, a strategy where traders buy stocks to cover open short position.
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