Gains in sensex were,however, crapped after sbi shares slipped by over 3.4% on dimal earnings.
The 30 share index, which had gained 124.46 points in the previous session, rose further by 157.64 points, or 0.84 % to 18,946.98. Intra day, it had touched 19066.97. Today's gain was sensex's best since 179.6 points on July 18.
Brokers said the market was in oversold zone following revent bearish phase and investord indulged in picking fundamentally strong stocks available at attrative levels.
Among sensex components, 20 stocks ended with gains led by ITC, Sun pharma,Infosys,Jindal Steel,Sterlite Industries,HUL and Bajaj auto.
The broad based NSE index Nifty rose 46.75 points, or 0.84%, to cross the key 5600 mark.It ended at 5612.40, led by metal,Fmcg and Health care stocks.MCX SX Closed at 11258 up 105.09, or 0.94%
Exports grew by 11.64% to USD 25.83 billion in July, snapping two consecutive months of decline. All eyes are now on Consumer Price inflation (July) and IIP figures (June).
"New liquidity tightening measures announced by the RBI had a negative impact on the banking stocks. The downtrend in banking stocks was aggravated by the poor asset quality of Sbi, which declared quarterly numbers," said Dipen shah, Head Private Client Group Research, Kotak Securities.
Analysis said expectations are high that the government and the Rbi will come out with a raft of measures to support the rupee and instill confidence in the markets.
Sectorlly, the BSE metal sector gained the most by 4.52% followed by Fmcg(2.30%) Healthcare (2%) and Capital Goods (1.95%)
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