Sensex jumps but D-St bulls still face the matador

What happened: Sensex rose over 685 points to close at 73,068 and Nifty 50 gained over 220 points to end at 22,776, as strong Q2 updates and cooling bond yields lifted sentiment. Key numbers: Sensex closed at 73,068, Nifty 50 at 22,776. Market cap rose nearly Rs 5 lakh crore to near Rs 474 lakh crore. India VIX fell over 8% below 14. Trent rose nearly 13%, Kotak Mahindra Bank about 4%. Why it matters: Geojit's VK Vijayakumar warned bulls may struggle to sustain the rally, saying FIIs will keep selling while the US 10-year yield hovers around 5.3%, keeping the market in a sell on rally mode.

Sensex rose over 685 points to close at 73,068 and Nifty 50 gained over 220 points to end at 22,776, as strong Q2 updates and cooling bond yields lifted sentiment.

Geojit's VK Vijayakumar warned bulls may struggle to sustain the rally, saying FIIs will keep selling while the US 10-year yield hovers around 5.3%, keeping the market in a sell on rally mode.