Benchmark indices ended the day sharply higher led by gains in heavyweights ITC and ONGC. The Sensex ended higher by 517 points, while the Nifty gained 150 points led by solid global cues.
Tech Mahindra saw huge selling pressure and the stock was down more than 3 per cent. TVS motors exhibited a weakish trend in trade after a sell rating on the stock by CLSA. Unitech, Suzlon and JP Associates were the top traded stocks on the exchange.
Pharma stocks had a mixed day in trade with Sun Pharma witnessing a subdued trend, while Cipla gained ground. Gas Authority of India had a weakish session with the stock among the top losers from the Sensex.
Cairn India continued to have a weakish session in trade despite a sharp drop in crude prices. The stock ended the day lower by 2 per cent. Other oil marketing stocks had a good day in trade with BPCL and HPCL among the gainers.
Meanwhile, most of Asia ended the day with gains, while Europe was trading significantly higher in trade.