State-owned Life Insurance Corp of India (LIC) has purchased nearly 90 per cent of Indian Oil shares sold by the government in its Rs 9,379-crore disinvestment.
European shares rose more than 4 percent, on track for their best one-day gain since late 2011, with a rate cut from China providing added juice to a recovery from a sell-off.
Shares, oil and core bond yields extended gains in midsession European trade as a tentative market rebound picked up pace after China cut interest rates.
Britain's top share index looked set for its biggest one-day rise since 2011 on Tuesday after China cut interest rates to try to calm markets following turbulence that has rocked equities globally.
European stock markets roared back into the black Tuesday, with most indices regaining much of the steep losses suffered the previous session on fears of economic slowdown.