Benchmark indices ended the day sharply higher recovering from losses seen on Thursday. Gains today were led by banking and finance names, with sharp rally seen in the stocks of Bajaj Finance, ICICI Bank, State Bank of India and IndusInd Bank.
The Sensex ended the day higher by 838 points, while the Nifty gained 244 points and re-conquered the 11,000 points mark. A few stocks from the Nifty ended the day lower including names like SBI Life and UPL.
Today's gains came despite a weakish set of cues from around the globe. Indian stocks had witnessed six straight days of losses, prior to today gains. European markets were seeing cuts of nearly 1 per cent and despite the same, Indian benchmark indices rallied. There may have been some buying support at least in beaten down banking names.
Shares in Just Dial jumped almost 8 per cent and saw its biggest single day gain in five months.
Analysts believe that today's gains also had largely to do with the first day of the F&O Oct series, which may have resulted in some bullish bets. Overall for the week the market has ended with losses of nearly 5 per cent and next week is expected to continue to be volatile.