Indian share benchmarks rallied over 2% with NSE Nifty reclaimed over 11,000-mark at the closing bell on Monday after the govt revived the enhanced surcharge on FPIs, and took various measures to boost the economy.
The BSE Benchmark Sensex closed at at 37,494 up by 792-pts while the Nifty surged 228.50-pts to 11,057.85
Top gainers in the Nifty pack included Adani Ports, HDFC, Bajaj Finance, Yes Bank and Ultratech Cement rallying up to 5.81%. On the other hand, JSW Steel, Vedanta, Tata Steel, HeroMotoCorp and Sun Pharma lost the most up to 3.06%
The Nifty PSU Bank index closed 3.58% after surging over 6% intraday on after FM Nirmala Sitharaman announced a Rs.70,000-Cr recap plan for PSU Banks. Indian Bank (up 11.71%), Central Bank (up 10.08%) and Allahabad Bank rose 7.66% followed by OBC and J&K Bank up by 4.42 and 4.73% as lead gainers on PSU bank index.
Nifty metal suffered biggest index loser from the pack with Tata Steel, JSE Steel and Vedanta cracked 2 to 35 loss.
All banking and financial index gained significantly over 3.6% while Auto index gained a tad higher 0.49% as govt measured not enthused to boost auto stocks. Ashok Leyland, Bosch rose higher by 4.98 & 3.50% respectively, while Hero MotorCorp declined most, down by 2.09%
Finance Minister on Friday announced double initiatives to help elevated the recently wakened automobile sector.