MARKET UPDATE: Sensex rose 325 points at 57,626 while Nifty gained 86 points at 17,178 levels

In the broader markets, the BSE MidCap and SmallCap indices were in the positive territory in line with the headline indices, up 0.9 and 1.4 per cent, respectively.

Sectorally, all the Nifty indices were in the green, with maximum gains in Nifty Realty, up 2 per cent. Realty shares were followed by PSBs, up 1.6 per cent. Other notable gainers included Nifty Auto, Financials,Consumer Durables and Metals, all 0.6-1 per cent higher.

Among individual stocks, Crompton Greaves Consumer Electricals was trading 3 per cent higher on the BSE after the company announced the acquisition of controlling stake in Butterfly Gandhimathi Appliances for an aggregate consideration of Rs 2,076.6 crores.

Dilip Buildcon was also up 3 per cent on the exchange on winning a road project in Chhattisgarh. It has been declared as L-1 bidder for a new HAM project under Raipur-Visakhapatnam in the state and the order is worth Rs 1,141 crore.

On the flip side, Mahindra CIE Automotive was down over 2 per cent on the BSE on muted Q3 performace. Its profit for the December 2021 quarter fell 28 percent year-on-year to Rs 80 crore, compared to Rs 112 crore profit reported in the corresponding period last fiscal.