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The BSE Sensex and the broader Nifty gained around 2 per cent on Thursday to emerge as the top gainers in Asia. The rupee jumped over 1 per cent.
Beaten down banking stocks saw buying interest and the NSE's Bank Nifty edged above the key 10,000 levels, rising over 3 per cent. Banks have been under pressure ever since the Reserve Bank unexpectedly raised rates last month.
Private lender Axis Bank surged 6.3 per cent, while PSU lender Bank of Baroda advanced 5 per cent.
Technology shares gained as brokers raised the sector's earnings estimates, citing higher demand from the United States and Europe.
Among IT shares, Tata Consultancy Services was up 4.2 per cent, while Tech Mahindra gained over 3.7 per cent. Infosys, which reports Q2 earnings next week, was up 0.5 per cent.
As of 2.50 p.m., the Sensex traded 360 points higher at 19,877, while the Nifty was up 123 points to 5,903. The rupee traded at 61.77 as against Tuesday's close of 62.46 per dollar.
Sensex soars 400 points; rupee up at 61.77/$ - NDTVProfit.com
Beaten down banking stocks saw buying interest and the NSE's Bank Nifty edged above the key 10,000 levels, rising over 3 per cent. Banks have been under pressure ever since the Reserve Bank unexpectedly raised rates last month.
Private lender Axis Bank surged 6.3 per cent, while PSU lender Bank of Baroda advanced 5 per cent.
Technology shares gained as brokers raised the sector's earnings estimates, citing higher demand from the United States and Europe.
Among IT shares, Tata Consultancy Services was up 4.2 per cent, while Tech Mahindra gained over 3.7 per cent. Infosys, which reports Q2 earnings next week, was up 0.5 per cent.
As of 2.50 p.m., the Sensex traded 360 points higher at 19,877, while the Nifty was up 123 points to 5,903. The rupee traded at 61.77 as against Tuesday's close of 62.46 per dollar.
Sensex soars 400 points; rupee up at 61.77/$ - NDTVProfit.com
