By IANS,
Mumbai: A benchmark index for Indian equities Thursday rallied 180 points on strong global cues as the International Monetary Fund raised the growth forecast for the country and the world, and European banks seemed to have passed a financial stress test.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,536.48 points, closed at 17,651.73 points, 180.7 points or 1.03 percent up from its previous close at 17,471.03 points.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty shut shop at 5,296.85 points, up 1.06 percent from its previous close at 5,241.1 points.
Broader markets indices were also in the positive, with the BSE midcap index ending 0.88 percent higher and the BSE smallcap index up 0.64 percent.
The market breadth was positive thanks to buying interest in broader markets, with 1,757 scrips advancing, compared to 1,163 stocks declining, and 104 remaining unchanged.
Consumer durables, realty and IT stocks were among the gainers and all the 13 sectoral indices on the BSE closed in the positive.
Among the gainers on the Sensex were Sterlite Industries, up 3.55 percent at Rs.165; SBI, up 2.29 percent at Rs.2,356.75; Hindalco Industries, up 2.08 percent at Rs.144.90; and Tata Steel, up 1.96 percent at Rs.484.15.
Prominent losers included ACC, down 0.99 percent at Rs.844.10; NTPC, down 0.57 percent at Rs.199.50; Hindustan Unilever, down 0.51 percent at Rs.265.80; and Jindal Steel, down 0.43 percent at Rs.621.60.
The IMF revised its 2010 GDP growth estimate for India to 9.4 percent from 8.8 percent projected in April. It also said the world economy will expand 4.6 percent, compared with an April prediction of 4.2 percent.
According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought scrips worth $7.47 million Thursday.
Other major Asian markets were also on the rise, rising in tandem with the gains seen in the US. Key US market indices gained Wednesday after retail sales climbed.
The Japanese Nikkei closed 2.76 percent up at 9,535.74 points, while the South Korean Kospi ended 1.37 percent higher at 1,698.64 points.
Hong Kong’s Hang Seng ended at 20,050.56 points, up 0.97 percent, while the Chinese Shanghai Composite index closed with marginal losses at 2,415.15 points, down 0.25 percent.
European markets were in the green as news started trickling in that the stress test of European banks had turned out not so bad and analysts saying that the crisis in the zone was overstated.
In Britain, the benchmark index FTSE 100 was ruling 1.35 percent higher at 5,082.29 points, while the French CAC 40 was trading 1.23 percent up at 3,526.22 points.
The German DAX was up 0.44 percent at 6,019.39916.69 points.