**Moneycontrol News**

Bulls finally managed to regain some control over D-Street after falling for three consecutive days on Monday is driven by short coverings in banks. Banking & financials contributed more than 60% percent to Nifty's gains. 

The S&P BSE Sensex rose 470 points while the Nifty50 reclaimed 10,100 levels despite trade war fears. The Nifty Midcap also traded in line with frontliners, rising 1.3 percent but market breadth remained in favour of declines. Technology and oil retailers underperform.

The S&P BSE Midcap index rose 1.19 percent while the S&P BSE Smallcap index was up 0.73 percent.

Sectorally, banking index led the gains from the front with Nifty Bank rallying 574 points, its biggest one-day gain in 5 months. Apart from banks, metals, consumer durable, telecom, auto stocks led the rally on D-Street.

On the losing front, IT and oil & gas stocks saw a bit of selling pressure.

**Stocks in news:**

Cadila Healthcare Ltd: Shares of Cadila Healthcare rose 4.5 percent as Zydus Cadila received USFDA approval for Metoprolol Succinate extended-release tablets. CLSA has upgraded the stock to buy from underperform and increased its price target to Rs 450 from Rs 440 a share.

Banking & financials sector is the star of the day, with the Nifty Bank, Financial Services indices rising 1 percent while PSU Bank index is up nearly 5 percent.

IT and oil marketing companies shares remained under pressure. IOC, Infosys, Wipro, HPCL, GAIL India are down up to 1-4 percent.

Fortis Healthcare Ltd shares rose 2.8% to Rs 147.30 after Bloomberg reported that TPG is nearing an agreement to gain control of Fortis Healthcare, India’s second-largest private hospital chain by market value.

Oil marketing companies - HPCL, and IOC fell up to 3 percent as Brent crude oil futures trades above USD 70 a barrel

Dr. Reddy's Laboratories announced that it has launched Palonosetron Hydrochloride injection, 0.25mg / 5ml, a therapeutic equivalent generic version of Aloxi injection approved by the US Food and Drug Administration. The stock rose nearly 1%.

MMTC Ltd shares rose 8.1% at Rs59.05 while State Trading Corp Of India Ltd rose 1.29% to Rs137.15 after Minister Suresh Prabhu said that STC and MMTC merger on the card.

Lanco Infratech Ltd shares gained 3.7% to Rs1.11 after ET reported that seven firms are ready to bid for the company.

Indiabulls Real Estate Ltd shares gained 4.6% after the company said it has executed a definitive agreement with global private equity investor Blackstone Group to divest 50% stake in its prime commercial properties in Mumbai for Rs4,750 crore.

**In other news:**

Economy to double by 2025: India is on track to double the size of its economy to USD 5 trillion by 2025, the finance ministry said while asserting that the inflation target set by the Reserve Bank will not be breached.

The country is well poised to click a growth rate of 7-8 percent and with focus on start-ups, MSMEs, and infrastructure investment it can step on to higher growth pedestal, Economic Affairs Secretary Subhash Chandra Garg said.

ICICI Securities IPO subscribed 71% so far on the final day

The initial public offering of ICICI Securities, the subsidiary of country's largest private sector lender ICICI Bank, has been subscribed 71 percent so far on the final day.

**Global Update:**

Asian markets ended mixed after news emerged that the United States agreed to exempt South Korea from steel tariffs. Japan's Nikkei, Hong Kong's Hang Seng, and South Korea's Kospi rose more than 0.7 percent while China's Shanghai and Australia's ASX 200 gained more than half a percent.

European markets traded higher, though lingering fears of a tit-for-tat global trade war appeared to cap gains. France's CAC, Germany's DAX and Britain's were up 0.3-0.7 percent at the time of writing this article.