Brokerages gain; trading volumes surge

Shares of Indian brokerages rally on hopes for improved stock trading volumes.

The Nifty had gained for nine consecutive sessions as of Monday, for a combined advance of 7.4%.

The government fiscal reforms and the Fed's QE3 are raising hope for continued strong gains, even as the NSE is already up around 21%.

Volumes on NSE's Nifty doubled on Friday and Monday compared to the daily average in the prior five sessions.

Foreign institutional investors have pumped in a total of Rs 51.1 billion  in Indian stocks in the last two sessions alone, according to provisional data, about half of what India received for all of August.

Motilal Oswal gains 7%, India Infoline adds 4.9% while Edelweiss Capital is up 3%