Stock picks of the day: Nifty likely to face resistance around 11,080-11,120 levels

Indian equity benchmarks indices made a strong comeback in the last hour of trade and ended sharply higher on August 8 on reports that the Modi government may reconsider surcharge on foreign portfolio investors (FPIs) and may also defer higher registration charges on vehicles.

The Sensex was up 637 points at 37,327.36, and the Nifty was up 177 points at 11,032.50. About 1,379 shares advanced, 1,020 shares declined, and 149 shares remained unchanged.

All the sectoral indices ended higher led by the IT, auto, banks, energy, FMCG, metal, pharma and infra.

The stock market enjoyed a tentative recovery after better-than-expected Chinese export data and a steadying of the yuan restored some calm to global markets.