Bank stocks soar on Raghuram Rajan's proposals

Markets gave the thumbs up to short-term measures that RBI governor Raghuram Rajan proposed to shore up the economy and strengthen the rupee. The feel-good rally on Thursday added 412 points to the sensex which closed at 18,980, a three-week high level, it also helped soften the benchmark 10-year yield to below the 8.50% mark and strengthened the rupee by 97 paise which closed at 66.12 to a dollar.

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