Mumbai: Markets today soared by over 380 points to regain the 17,000-level after the investor sentiment was bolstered by robust industrial production in August and hopes of a truce between warring Ambani brothers.

Markets witnessed frantic rally soon after the news of 10.4 per cent growth in industrial output, the highest in 22 months, came out. Brokers said atmosphere was euphoric with a slew of goods news adding to the festive cheer.

The Bombay Stock Exchange benchmark index, Sensex, opened on a strong note after Anil Ambani yesterday extended an olive branch for peace with elder Mukesh Ambani, fuelling investor hopes of an end to one of the most intense corporate battles.

The market also got support from Prime Minister Manmohan Singh's statement that the economic growth will accelerate.

Brokers said investors, fortunes of many of them are tied up with frims run by Ambani brothers, cheered the development.

Tag: AMBANI, NEWS, INDUSTRIAL, INVESTOR, HOPES, GROWTH, PEACE ELDER, ELDER MUKESH, BRANCH PEACE, OLIVE BRANCH, NOTE, PEACE ELDER MUKESH, CORPORATE, BATTLESTHE, END, INTENSE, MUKESH, FUELLING, PEACE,