Mkts shrug inflation, Sensex up 360 pts

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Markets bounced back on Friday with the benchmark Sensex scaling up nearly 360 points on revival of buying support following reports that inflation is below 12 per cent level contrary to anticipations that it would breach this mark.

Marketmen said indications of political tension easing also aided the investor sentiment.

The 30-share Sensex on BSE, which moved around the 16-month low level of 13,000 points level in the past two day, shot up today by 359.89 points at 13,454.00.

The index touched the day's high of 13,509.74 and a low of 13,027.79 points.

The wide-based National Stock Exchange index Nifty rose by 90.25 points, or 2.30 per cent, at 4,016.00, after touching the day's high of 4,033.50 and a low of 3896.40 points.

The BSE barometer jumped riding on the back of a surge in consumer goods and banking stocks.

The much battered realty stocks were the best performer with a gain of 7.80 per cent. Leaders DLF Ltd., Unitech, Ansal Infrastructure, Indiabulls Realty, Parasvnath and Omex firmed up on fresh buying.