S&P 500 rebounds from 9-week low - Nirmal Bang

U.S. stocks rose, as the S&P's 500 rebounded from a nine-week low, after data showed durable-good orders and home sales increased more than forecast and consumer confidence climbed.

Asian stocks rose for the first time in three days after better-than-estimated U.S. data bolstered the outlook for the world's largest economy and concern over China's cash crunch eased.

Sensex closed over 88 points higher, as foreign funds resumed buying following a firm trend in global markets. Brokers said the recent fall in share prices attracted valued buying in some fundamentally stong stocks. Also, a better trend in overseas markets further influenced the uptrend, they added. The People's Bank of China's statement that it was addressing liquidity concerns provided support. Market is expected to open on a flattish note and likely to remain range-bound during the day.

Source : Equity Bulls

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