Share benchmarks reported strong gains from losses in the previous session led by stellar gains in IT stocks and Bank Stocks. The BSE Sensex rose 0.93% or 318 points to 34,663 and the NSE Nifty50 index zoomed 0.8% or 83 points to 10,514. Continued buying by domestic institutions in equity market supported investor’s sentiment. 

The Nifty IT index rose 2.31%, its biggest intraday gain in about one month, and has gained 18% thus far this year. Shares of Infosys Ltd zoomed 2.96% and TCS climbed 3.31%. 

Shares of Oil and Natural Gas Corp (ONGC) and Oil India Ltd plunged over 4 and 7% respectively, after PTI reported that the govt may levy a windfall tax on oil producers to reduce fuel prices. 

Banking Stocks such as Axis Bank, State bank of India, ICICI Bank, Kotak Mahindra Bank also rose over 2 percent in trade. 

Tata Motors Shares slumped 3.41% on closing after company posted that its Net Profit Declined to 50 percent. 

NSE Gainers and  Losers: Bharti Airtel up 4.34%, TCS up 3.31%, Infosys up 2.90%, Axis bank up 2.92% and Sun Pharma up 2.53%, as top five Nifty Gainers. 

Tata Motors down 6.33%, GAIL India down 5.45%, ONGC down 4.39%, Grasim down 2.52% and Hindustan Petroleum Corp down 1.10% as top five Losers on NSE.