Indian share prices rose 3.56 percent on Friday, crossing the key 10,000 level intraday on overseas and local funds buying led by firm Asian markets as concerns of a US economic slowdown eased, dealers said.
They said buying into blue chip index stocks led the recovery after gains on Wall Street however investors remained cautious because of the sustainability of the sharp surge.
The Sensex recovered 955 points or 10.6 percent on Thursday and Friday after plunging nearly nine percent at the start of the week. The benchmark 30-share Sensex climbed on strong fund buying to cross the 10,000 level and reach the day's high of 10,118.28. Profit taking took the market down to close at 9,884.51, up 339.45 points or 3.56 percent.
"We still believe it's a relief rally considering a near 30 percent dip in May. These are key technical levels which need to sustain," said a dealer with brokerage Jamnadas Morarjee.
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