Key Indian indices skyrocketed last week, after trading in a narrow range of 5100-5200 for nearly a fortnight aided by strong global cues, supportive domestic news flows and a sharp drop in crude prices.
Indian shares climbed to their highest in 10 weeks, the biggest jump of the year 2012, as the government moved closer to soothe foreign investors' concerns over tax rules.
Markets registered the biggest jump of 2012 as European leaders, on the first day of the European Union summit, agreed to take emergency action to bring down Italy's and Spain's spiraling borrowing costs.
Markets also gave a thumbs-up to the announcements made by the new Finance Minister, Dr Manmohan Singh. Hopes of some reforms or a policy decision in the near term as Prime Minister Singh took charge of the finance ministry rose.
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