The market gained nearly 1 percent in afternoon trade after Macro Economic Survey indicated that fiscal deficit target in current financial year is likely to be met. Banks supported on hopes of early recapitalisation.
The 30-share BSE Sensex rose 211.02 points or 0.92 percent to 23187.02 and the 50-share NSE Nifty climbed 64.85 points or 0.93 percent to 7035.45. However, the market breadth remained weak as about 1287 shares declined against 1027 advancing shares on the BSE.
State Bank of India gained more than 3.5 percent and Coal India surged 4 percent followed by HDFC Bank, L&T, Hindalco, Axis Bank and NTPC with 2-3 percent upside.
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