The bulls staged a strong comeback helping markets close with hefty gains. The day started flat with buying seen in midcaps and smallcaps but moved ahead with heavy buying seen in frontline banking, power, capital good stocks. Sensex was up 350 points and the Nifty has scored almost a century ending near 5,700 mark.

On the macroeconomic front, the positive trigger being the Left has given the nod to government to proceed negotitations with IAEA on Nuke deal.

Power stocks surged Areva T&D was up 20%, Alstom Projects up 10%, Voltamp Transformers up 8%, NTPC was up 7%, L&T up 5.6%, BHEL 4.5% and Tata Power was up 4%.

Heavies like SBI, HDFC Bank, L&T, Tata Steel Reliance Ind, NTPC were helping the markets trading higher.

Broader markets have held out their gains and both midcap and smallcap indices were up 2% each. However, the IT stocks were still under pressure.

Among the frontliners HDFC Bank was up over 6%, MTNL up over 4%, HDFC, SBI, Suzlon each up over 4%. ICICI Bank, Tata Steel, Tata Motors, Maruti were up over 3% each.

Syndicate Bank can move another 20-25% up, says Anil Maghnani, technical analyst, on NDTV Profit. The stock is at Rs 103.40, up 10% on the BSE.