Markets gain momentum as Sensex rises over 800 points

The blue-chip NSE Nifty 50 index rose 1.2% to 14,684 and the benchmark S&P BSE Sensex gained 1% at 49,487, as of 9:39 am.

Indian shares rose on Tuesday, as gains in State Bank of India and Canara Bank lifted banks, after a steel conglomerate completed an insolvency process, allowing lenders to recover some of their bad loans. Volumes are expected to be lighter in a holiday-shortened week, with the Indian exchanges being closed on Monday and the coming Friday.