Market LIVE updates: Sensex up 1100 pts, Nifty reclaims 16600; PSBs rally

Live market updates: Following the overnight recovery in global markets, the domestic benchmark indices started trade sharply higher on Friday and snapped their 7-day losing streak. The rose 933 points to 55,463 while the climbed 267 points to 16,514

Among the Sensex-30 shares, IndusInd Bank, Tata Steel, M&M, Bajaj Finserv, ICICI Bank, Axis Bank, Ultratech Cement, Wipro, Bajaj Finance an SBI were the top gainers, up to 4 per cent higher. All shares were in green. On the Nifty, Tata Motors, UPL and Adani Ports were the top additonal gainers, trading 3-6 per cent up. 

The broader were seen putting up an impressive show outperforming the benchmarks. The MidCap and SmallCap indices were up to 3 per cent higher. In comparison, the and were up 2 per cent each. 

The sharp pullback in the US and Asian this morning is strongly supporting the market sentiment. The India VIX index cooled off by 15 per cent after it hit a 52-week high in the previous session. 

Among sectors, PSB index rose 5 per cent, while Realty was up 4.5 per cent. All sectoral indices were signidicantly higher with Nifty Bank, Auto, IT, Metals, up 2.5-3.5 per cent. 

From individual stocks, Apollo Hospitals was up 3 per cent after the index rejig which has added the stock in the Nifty50 index, replacing it with Indian Oil Corp. The latter was also 3 per cent up. 

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