July 22, 2011 6:36 PM

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Sensex gains 254 points in afternoon trade

Tracking rising global markets, the Sensex at the Bombay Stock Exchange surged 286 points, or 1.6 percent, to a near two-week high of 18,722, on Friday. The market was lifted by some encouraging quarterly corporate results, and a new European Union-IMF bailout for debt-ridden Greece. The Nifty at the National Stock Exchange rose 92 points, or 1.7 percent, to 5,634. Stock markets across the global rallied, with the bourses in Japan, China, Hong Kong, South Korea and Singapore gaining between 0.2 percent and 2 percent, after European Union officials hammered out a new aid package for Greece, and outlined a plan to prevent the spread of the sovereign debt crisis. The European bourses also posted good gains.

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