Equity benchmarks bounced back in afternoon trade reacting to strong European cues. France's CAC, Germany's DAX and Britain's FTSE gained 2-3% in the opening trade. These markets had fallen anywhere between 3 and 5% yesterday on rumours that France may be on the way to lose its prized top AAA credit rating.
The 30-share BSE Sensex rose 59 points to 17,189 and the 50-share NSE Nifty went up 17 points to 5,178.
Heavyweights like Reliance Industries, HDFC, NTPC and ITC gained 1.5-3%. Kotak Mahindra Bank surged nearly 4%.
Among other largecaps, Sterlite, Sun Pharma, Reliance Communications, Ambuja, Reliance Infrastructure, Hindalco and Reliance Capital were up 1-2%.
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