Shrugging off concerns of margin calls and the weakness in Asian markets, the markets closed in the positive terrain, after falling for three consecutive days.
The BSE Sensex made hefty gains of 341 points and the NSE Nifty was up 124 points.
The Sensex closed at 10823 up 341 points and the NSE Nifty closed at 3199 up 118 points.
The BSE midcap closed at 5,103.05 up 2.98%. The BSE smallcap closed at 6,336.03 up 2.28%.
Grasim, Tata Power, Tata Steel, Wipro, NTPC, Bharti Tele, SAIL, Zee and Tata Chemicals were among the major gainers.
All the BSE indices closed in green. Metal and the consumer good stocks witnessed heavy buying at the bourses.
The BSE metal index was up 7.4% to close at 8,683.33. SAIL, Jindal Stainless, Sterlite Ind, Tata Steel, Nalco and Hindalco closed in green.
The capital goods index climbed 4.1% to close at 7,633.87. Siemens, Alstom Projects, ABB, Carborundum, HEG and Bharat Elec were among the gainers.
The oil & gas index advanced was up 4% at 5,272.82. MRPL, BPCL, Kochi Refin, Petronet LNG, and HPCL closed in green
The IT index jumped 3% to close at 3,674.15. Technology stocks like Wipro, HCL Tech, Infosys, TCS and MphasiS BFL surged on the bourses.
The consumer durables index moved up 5% to close at 2,969.72. Stocks like Blue Star, Whirlpool, Su-Raj Diamonds, Titan Industries and Samtel Color witnessed buying interest.
The FMCG index rose 2.4% at 1,985.46. P&G, Nirma, Tata Tea, ITC, and Britannia closed higher.
The health care index soared 2.7% to close at 3,487.20. Nicholas Piramal, Divis Labs, Orchid Chemical, Matrix Lab, FDC and GlaxoSmithKline gained.
The bankex was up 2.4% to close at 5,000.67. Banking stocks like IOB, Canara Bank, Andhra Bank, Bank of India, Union Bank and Allahabad Bank rose.
The auto index rose 2.6% to close at 4,978.41. Punj Tractors, Hind Motors, Escorts, MICO, Ashok Leyland and Amtek Auto moved up.
Market Summary:
Markets recover after 3 consecutive days of fall
Sensex up 3.25% or 341 points at 10822.78; swings 673.72 points
Nifty up 3.83% or 118 points at 3199.35; swings 223.70 points
All BSE sectoral indices close in green
BSE Metal Index up 7.35%; SAIL up 16%, Sterlite up 11.5%
BSE Cap Goods Index up 4.11%; Siemens up 14.3%
BSE Oil & Gas Index up 4%; RIL up 4%, Essar Oil up 16.5%
CNX Midcap Index up 3.7% at 4435.70 led by banking stocks
Syndicate Bank, IndusInd Bank up 12.5% each
NSE Advance-Decline ratio at 2.5:1
Marketwide Rollover at 30%; Nifty Rollover at 35%
The NSE cash turnover stood at Rs 8004.56 crore and the NSE F&O was Rs 33572.84 crore. The BSE cash turnover was Rs 3809.67 crore. The total market turnover stood at Rs 45387.07 crore as compared with Rs 44271.35 crore a day ago
Views from dealing room:
-Volatility likely to continue till Thursday's expiry
-Buying support from domestic funds, including LIC
-Margin call pressure seems to have eased
-Stock-specific approach by FIIs: Sources
-Supply coming in early higher levels
