By IANS,
Mumbai: A benchmark index for Indian equities Thursday closed 252 points higher on a spurt of short covering by traders. Gainers were led by auto, IT and banking stocks.
The current month’s futures contract expired Thursday.
The 30-scrip sensitive index (Sensex) of the BSE Thursday opened at 16,387.91 points, and closed at 16,698.07 points, up 252.05 points or 1.53 percent from its previous close at 16,446.02 points.
The 50-scrip S&P CNX Nifty of the National Stock Exchange also ended higher, 1.41 percent up at 5,015.45 points.
Broader markets also saw some gains with the BSE 100 index closing 1.21 percent higher. However, the BSE midcap and small cap indices ended flat.
The market breadth at the BSE was negative with 1,507 stocks on the decline, compared to 1,265 advancing and 110 remaining unchanged.
According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors were net buyers to the tune of $51.49 million.
Prominent Sensex gainers were Tata Motors, up 3.21 percent at Rs.160.95; Infosys, up 3.04 percent at Rs.2,550; HDFC Bank, up 2.94 percent at Rs.470.65 and Hindustan Unilever, up 2.77 percent at Rs.343.65.
Losers on the benchmark included L&T, down 2.47 percent at Rs.1,369.55; Coal India, down 1.32 percent at Rs.350.80; SBI, down 0.94 percent at Rs.1,950.10 and Bharti Airtel, down 0.61 percent at Rs.376.45.
Global markets were ruling mixed amid anticipation that European leaders would come out with concrete steps to contain the Euro zone debt crisis.
Among Asian bourses, the Japanese Nikkei closed almost a percent higher at 8,701.23 points, while the Chinese Shanghai Composite index ended 1.12 percent down at 2,365.34 points.
Hong Kong’s market were closed on account of a holiday.
European markets were mixed even as the Finnish parliament voted in favour of expanding a bailout fund to be used to rescue countries hit by the debt crisis. Germany too voted for such a measure.
While Britain’s FTSE was ruling 0.36 percent down at 5,198.67 points, the German DAX was trading 0.14 percent higher at 5,585.99 points.
The French CAC 40 was ruling 0.64 percent higher at 3,014.92 points.