Telecom stocks fell after Mukesh Ambani extended Reliance Jio's free offers till March 2017.
The BSE Sensex zoomed 318 points to end at 33,351.57, while the broader Nifty spurted 88 points to 10,242.65.
"You will see further improvement after an immediate reaction and the markets will calm down," says Vikas Khemani.
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