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Benchmark indices rebounded sharply after falling in previous two straight sessions, driven by banking & financials, and index heavyweight Reliance Industries.
The BSE Sensex rallied 424.50 points or 1.12 percent to 38,233.41 and the Nifty50 climbed 129 points or 1.14 percent to 11,483.30.
The Nifty Midcap index also gained over a percent but the market breadth was not so great.
About 1,377 shares advanced against 1,286 declining shares on the BSE.
NTPC, Reliance Industries, SBI, Vedanta and Bajaj Finance were leading gainers among Nifty50 stocks, rising 3-4 percent while Tech Mahindra, IOC, UPL, Infosys and Wipro lost 0.6-2.4 percent.
HEADLINES OF THE DAY
SBI Life Insurance Company has declared an interim dividend of Rs 2 per equity share for the financial year 2018-19.
Benchmark indices extended rally in afternoon with the Sensex gaining nearly 400 points, driven by banking & financials stocks.
Lupin said Lupin Limited and YL Biologics Limited, a joint venture between Lupin subsidiary Lupin Atlantis Holdings SA (LAHSA) and Yoshindo Inc. in Japan, has received an approval to manufacture and sell their biosimilar Etanercept in Japan. The approval to treat moderate to severe Rheumatoid Arthritis (RA) and Juvenile Idiopathic Arthritis was received today.
The crucial resistance for Nifty spot is now seen at 11600 and above this 11810 Support for the immediate term is now placed at 11200 next support will be 10920.
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