Stock market: Sensex surges 996 points Nifty above 9,300-mark

[Melvin]

Nifty reclaimed 9,300-level while the sensex appreciated above 31,000-mark with supports on the gaining side in banking and IT heavyweights.Sensex surged 995.92 points or 3.25% at 31,605.22 while Nifty rose by 285.90 points or 3.17% at 9,314.95.Axis Bank was amongst top gainers in the Sensex pack zooming over 13%.Other gainers were ICICI Bank, HDFC Bank, IndusInd Bank, Bajaj Finance and SBI.Axis Bank, HDFC Bank, Wipro, Grasim Industries and ICICI Bank were major gainers of the Nifty, losers were Sun pharma, Ultra Tech Cements and Asian Paints.