Mumbai, Jan 28: Indian stock market benchmark indices continued to rally higher and ended on a strong note led by short covering, ahead of expiry of Jan series. The strong global markets also lend support to the markets. The Sensex closed the session above 9200 while the Nifty has touched 2850 in late trade. Broader indices also followed the same trend.
The 30-BSE Sensex ended with a gain of 253.39 points or 2.81 per cent at 9,257.47 and the Nifty closed the day near to 2850, up 2.82 per cent or 78.15 points at 2849.50.
Strong European Markets; Indices rallying higher
The Sensex gained 163 points at 9,167 and the Nifty went up 51 points to 2,822, at 2:10 hours IST after witnessing strong opening of the European markets. BSE Midcap and Small cap indices rose 0.7-1 per cent.
Lead players are Reliance Industries, ONGC, ICICI Bank, SAIL, L&T, ITC, Wipro, Infosys, HDFC, Ranbaxy and HDFC Bank. However, Reliance Communication, BHEL, Maruti, Sterlite, Suzlon and BPCL are only stocks under pressure.
Indices trading higher as banking, oil stocks lead
With support from the oil & gas, banking, technology, cement, realty, auto, select power and metal stocks the Indian benchmark indices are trading higher. The Nifty is hovering around the 2800 mark while the Sensex is close to 9100 levels.
The Sensex went up 86 points to 9,090 and the Nifty rose 27 points to 2,798, at 10:40 hours IST. BSE Midcap and Small cap indices gained 0.7 per cent each.
The majors trading well are Grasim, Tata Motors, ACC, Wipro, ONGC, Zee Entertainment, Unitech and SAIL, while Reliance Communication, Bharti Airtel, Reliance Infrastructure, NTPC and Tata Steel are losers.
Positive global cues; Nifty up by 0.72 pc
Taking positive cues from the global markets the markets open green. At 9:56 am, Bombay Stock Exchange"s Sensex was at 9078.15, up 74.08 points and National Stock Exchange"s Nifty was at 2793.45, up 22 points.
The Asian markets too are on high afer an extended weekend. Nikkei was up 0.72 per cent. Meanwhile the US markets ended higher for the third straight session as encouraging results by American Express offset poor consumer data.
The Dow Jones industrial closed up 0.72 per cent, S&P 500 was up 1.09 per cent and Nasdaq Composite Index was up 1.04 per cent. As it was Lunar New Year, no trading happened in China, Taiwan and Hong Kong markets.
OneIndia News (With inputs from Agencies)