In a volatile trading session, following morning losses and then overcoming them, indices in the late afternoon session was up. Bank Nifty was up close to 2 percent. Nonetheless, broader markets underperformed their headline peers. At the close, Nifty topped levels of 14406, while Sensex added 374 points.
Among Nifty sectoral indices, Nifty financial services, metal and private bank index gained the most, while weakness was seen in pharma, IT and FMCG space.
Nifty metal rose a good 1.7 percent and the sector as a whole shrugged off the lower base metal prices effect as the US dollar rose from a seven-week low hit overnight. This is owing to strength in the various metals and also as results come into focus. The leadng gainers from the sector have been Hindustan Zinc, Tata Steel and JSW Steel among others.
Meanwhile, European indices in line with their Asian peers tracking overnight strength in the US equities were up, with French CAC up almost 0.68 percent.