Taking Stock: D-St ignores bad news; Sensex rallies by 700 points; Nifty above 10K

What a day for Indian markets! The benchmark indices that started on a muted note largely on account of escalating tensions between India and China at the border, as well as Fitch Rating’s negative outlook on India, failed to dent sentiment.

Banking stocks led the rally from the front after the Supreme Court allowed more time to the Department of Telecommunications (DOT) to review the payment proposals by the telecom companies'.