The benchmark BSE Sensex reclaimed 29,000-mark after presentation of Economic Survey in Parliament on emergence of buying by funds and retail investors.
Further, beginning of March series in the derivatives segment, supported the upside in stock prices.
Indian economy is likely to grow above 8 per cent in 2015-16, said the pre-Budget Economic Survey tabled by Finance Minister Arun Jaitley in Parliament on Friday.
The Survey, released a day ahead of the annual Budget 2015 further said that the economic growth for the financial year 2015-16 is likely to remain between 8.1 and 8.5 per cent.
The 30-share index, which had lost 261.34 points yesterday, recovered by 255.30 points, or 0.89 per cent, to 28,001.95, with stocks of capital goods, metal, healthcare, auto, banking, consumer durables and power sectors, leading the recovery.
On similar lines, the National Stock Exchange index Nifty recaptured the 8,700-mark by rising 91.30 points, or 1.05 per cent, to 8,775.15.
Among other Asian markets, Hong Kong’s Hang Seng was up by 0.62 per cent, while Japan’s Nikkei gained 0.15 per cent in early trade today.
The US Dow Jones Industrial Average ended 0.06 percent lower in yesterday’s trade.