MARKET LIVE: Sensex at day's high, up 500 pts; Nifty reclaims 11,200

Brokers trade at their computer terminals at a stock brokerage firm in Mumbai (

The Indian markets were holding on to their early gains and trading 1 per cent higher as the Supreme Court said the loan moratorium and interest waiver case will be heard and decided on October 5. The SC's direction came after the government sought 2-3 days to make a decision.

 

Among headline indices, the S&P BSE Sensex rose 500 points to 37,900 levels and the Nifty50 index reclaimed the 11,200-mark. ONGC (up 4%) was the top Sensex gainer, followed by Bajaj Finance (up 3%), NTPC, Axis Bank, and Larsen & Toubro (all up 2%).

Meanwhile, Lakshmi Vilas Bank slipped 5 per cent after a large section of the bank's shareholders voted against the reappointment of the managing director and chief executive, as well as seven directors and auditors, at the recent AGM.

All the Nifty sectoral indices were trading in the green, led by Nifty Metal index, up 1.8 per cent.

The broader indices, meanwhile, outperformed the benchmark indices, with the S&P BSE MidCap and SmallCap indexes trading 1.8 per cent and 2 per cent higher, respectively.

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