Sensex Nifty Recover; SBI and Tata Steel Surged 15-pc

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Domestic benchmark equity indices advanced more than 4 percent each after recovering sharply from the day lows, with the Nifty crossing above 10023 on Friday.

At close, the Sensex climbed 1325 points or 4.04 percent to 34,103.48 and the NSE Nifty settled at 10,023.65, up by 433 points or 4.52 percent.

Among major gainers, the State Bank of India rose 14.9 percent, Tata Steel rose 15.5 percent, HDFC rose 10.5 percent, Bharat Petrolatum climbed 9.64 percent and Sun Pharma rose 8.7 percent, among the 50-scrip Nifty.

On the downside, UPL slipped 7.15 percent, Zee Entertainment lost 4.17 percent, Nestle India lowered by 3.70 percent, Asian Paint slipped 2.47 percent and Britannia dropped 1.84 percent and was among top Nifty losers. For stock Nifty Option tips visit the link.

Except for the Nifty Media which slipped marginally lower, the complete sectoral indices of the Nifty closed in green with a major buying in Nifty PSU banking index which gained by 11.73 percent, led by Bank of Baroda, State bank of India and Punjab National Bank.

The Nifty Metal, Pharma, Banking, Financial Service have also witnessed a sharp rise between 6 and 4 percent.

The rupee, which in the beginning declined to a record low of 74.50 vs the dollar also has regained losses to trade about 0.4 percent firmer at 73.86 buoyed by steps by the RBI announced liquidity measures.

India Volatility Index, closed at its highest, up at 51.21, rising 24.43-percent.

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