Equity benchmark indices recovered sharply in the noon trade as the buying was seen in metal, banking and realty shares. ICICI Bank, Infosys and HDFC are among the top contributors to the index gain.
Shares of Infosys jumped 2.5% after chairman Nandan Nilekani cleared air over whistleblower complaint.
The Nifty traded above the 11,950 level, up 69 points and the Sensex was also up 272 points at 40,519.
The market breadth was positive, 1,180 shares rose, 1,140 shares fell and 167 shares were unchanged on the BSE.
The NSE India VIX fell 0.58% to 15.82.
Further, shares of PC Jeweller climbed 8% as the Securities and Exchange Board of India has disposed of off-adjudication proceedings against the company, accepting settlement charges of Rs19.1 lakh in relation to share buyback.
On the domestic front, Fitch Solutions raised India's fiscal deficit forecast to 3.6% of the GDP for this fiscal year, from 3.4% previously, due to weak revenue collections resulting from sluggish economic growth and government's sweeping corporate tax rate cut.
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