Sensex rallies 300 pts, Nifty above 10,250; private banks dive

Equity benchmarks retained morning gains, though were trading off record highs. PSU banks were biggest gainers after the government announced recapitalisation of Rs 2.11 lakh crore that will be spread over two fiscal years.

Infrastructure stocks were also in action on a Rs 7 lakh crore highways development plan. L&T gained 5 percent.

The 30-share BSE Sensex rose 322.91 points or 0.99 percent to 32,930.25 and the 50-share NSE Nifty rose 57.30 points or 0.56 percent to 10,265 despite weak market breadth.

About 1,248 shares declined against 1,117 advancing shares on the BSE.

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Posted in: Indian Market Tips