Stocks opened sharply higher Monday after re-assuring comments on the market situation by finance minister P Chidambaram on the health of Indian economy.
He expressed confidence that India can weather the storm of financial crisis blowing across the world saying the country's economic fundamentals and the banking system were strong.
National Stock Exchange's benchmark Nifty climbed 88.75 points to 3368.70.
Bombay Stock Exchange's 30-share Sensex surged 344 points to 10872 from Friday's close.
Asian markets were on recovery path Monday after Australia guaranteed bank deposits and European leaders agreed to support lenders in a global effort to end the credit crisis.
Hang Seng rose 0.31 per cent, Straits Times added 0.52 per cent and S&P/ASX climbed 3.68 per cent. Japanese markets are closed for a national holiday.
Wall Street futures indicated a sharp rebound ahead of the opening bell on Monday. Dow Jones Industrial futures rose 235 points, or 2.8 per cent, to 8,605. Standard & Poor's 500 futures jumped 19.25, or 1.50 per cent, at 1,309.00; and Nasdaq-100 futures added 22.10, or 2.48 per cent, at 913.10.
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