Oil&gas, metals and banks were the top performing sectors. Realty midcap stocks showed unexpected surged in prices on speculative buying.
Bombay Stock Exchange"s Sensex closed 9312.48 up 221.60 points or 2.43 per cent. The index touched a high of 9321.38 and low of 9158.59 during the day.
National Stock Exchange"s Nifty ended at 2847.05, up 67 points or 2.41 per cent. The broader index hit a high of 2852.50 and low of 2778.65.
BSE Midcap Index ended 1.38 per cent higher and BSE Smallcap Index moved 1.12 per cent up.
Sensex firm; Tata Motors, Reliance Infra gain
Fresh buying across the board pushed equities to intra-day high levels on Friday. Sentiments in Asian markets turned bullish on expectations of stimulus package from the US. Traders were also hoping for some positive cues from interim budget by the UPA government.
“There are reports that in the vote of account on 16 Feb the government may announce some tax cuts and stimulus package for the industry. This could be a positive trigger for market alongwith a positive trend in global markets, the sentiments may improve today," said Anand Rathi report.
At 12:04 pm, Bombay Stock Exchange"s Sensex was at 9268.77, up 177.89 points or 1.96 per cent. The index touched an intra-day high of 9279.39 and low of 9158.59.
National Stock Exchange"s Nifty moved to 2832.60, up 52.55 points or 1.89 per cent. The broader index hit a high of 2838.30 and low of 2778.365 in trade so far.
Sensex above 9200; realty stocks surge
Indian equities gained momentum after a gap-up opening tracking positive Asian markets which moved higher ahead of US stimulus package.
Investors lapped up frontline stocks in oil&gas and banking space. Heavy buying emerged in realty midcap companies. Analysts say the spike in these counters was on account of speculative buying. BSE Realty Index surged 6.03 per cent. Orbit Corporation (45.88 per cent), Ansal Infrastructure (25.53 per cent), Parsvnath Developers (22.12 per cent) and MahindraLife (11.70 per cent) were the top gainers in realty space.
Markets open higher on strong global cues
Key indices opened higher on Friday riding on strong cues from global shores. Metals continued to keep up the good work. There was good amount of participation from the broader market as well.
Bombay Stock Exchange"s 30-share Sensex rose 97 points to 9187.35. National Stock Exchange"s benchmark Nifty climbed 29.75 points to 2809.80 from its previous close.
US stocks rallied on Thursday on investor hopes that the government's plan to shore up the financial system will include a change in accounting rules that would stem bank write-downs and spur lending.
The Dow Jones Industrial Average was up 105.69 points, or 1.33 percent, to 8,062.35, the Standard & Poor's 500 Index was up 13.50 points, or 1.62 per cent, to 845.73 and
the Nasdaq Composite Index was up 31.19 points, or 2.06 per cent, to 1,546.24.
OneIndia News (With inputs from Agencies)