MARKET UPDATE: BSE benchmark hit a high of 60,834 – up 1,080 points from the day’s low and the Nifty50 rallied 310 points in intra-day trades, and settled with a gain of 208 points, reclaiming the 18,000-mark

SBI and IndusInd Bank were the top gainers among the Sensex 30, up 4 per cent each. Bajaj Finserv, Tata Steel, ITC, Axis Bank, HDFC Bank, Ultra Tech Cement, NTPC and Tata Motors were the other major gainers, up 2 – 3 per cent each. On the flip side, Nestle India slipped over a per cent.

The broader markets outperformed in trades today - the BSE Midcap surged 2.3 per cent, while the Smallcap index vaulted 3.1 per cent. The overall breadth too was extremely positive, with 2,877 shares advancing versus 760 declining stocks on the BSE.

Sector-wise, the Bank Nifty was up 2 per cent. The BSE Power index soared over 3 per cent. The Metal, Realty and Commodities indices also finished more than 2 per cent higher each.

Among individual shares, NDTV rallied 5 per cent in intra-day trades after founders Prannoy Roy and Radhika Roy said that they would sell 27.26 per cent out of their 32.26 per cent shareholding in the news broadcaster to the Adani Group. READ MORE

eClerx Services dipped up to 7 per cent on turning ex-date for buyback via tender offer. The company has proposed to buy back 1.71 million equity shares at a price of Rs 1,750 apiece via tender offer route. READ MORE

Radiant Cash Management Services IPO was merely subscribed 10 per cent as of 15:45 PM on Day 2 of the offer period. The public sale closes Tuesday.