Bombay Stock Exchange"s Sensex ended at 8892.60, up 70.54 points or 0.80 per cent. It slipped from intra-day high of 8995.04 and touched a low of 8889.18.
National Stock Exchange"s Nifty closed at 2759, up 25.1 points or 0.92 per cent. The index retreated after touching a high of 2789.35 and low of 2733.45.
Biggest Sensex gainers were Mahindra & Mahindra (8.01 pc), Tata Motors (6.17 pc), Reliance Infrastructure (3.44 pc), Tata Consultancy Services (3.3 pc) and Wipro (2.73 pc).
Ranbaxy Laboratories (-3.4 pc), HDFC (-3.1 pc), Larsen & Toubro (2.15pc), Reliance Communications (-2.1pc) and DLF (-1.72pc) were the losers.
Sensex nears 9000; Rel Inf, Tata Motors gain
Indian equities were witnessing an upmove on Wednesday as traders covered shorts ahead of February series F&O expiry and after
sentiments turned bullish as the government announced cut in indirect taxes.
At 12:50 pm, Bombay Stock Exchange"s Sensex was at day's high of 8991.45, up 1169.39 points. It touched an intra-day low of 8913.44.
National Stock Exchange"s Nifty was at 2784.15, up 50.35 points or 1.84 per cent. The borader index touched an intra-day high of 2785.70 and low of 2733.45.
BSE Midcap Index was up 1.45 per cent and BSE Smallcap Index moved 1.30 per cent higher.
Biggest Nifty gainers were Mahindra & Mahindra (7 pc), NALCO (4.91 pc), Reliance Infrastructure (4.67 pc), Tata Motors (4.24%), Cairn India (4.19 pc) and Suzlon Energy (3.97 pc).
Losers comprised Ranbaxy Laboratories (-1.4 pc), DLF (-0.95pc), HDFC (-0.91pc), Hindustan Unilever (-0.69 pc), ABB (-0.14pc) and BPCL (-0.06pc).
Nifty near day's high; M&M, Hindalco lead
Indian markets gained momentum on Wednesday after the government cut factory gate duties and service taxes in an effort to boost demand and revive growth in economy as it reels under the impact of the global economic crisis. Rise in global markets led by gains in the US helped boost sentiments further.
At 11:30 am, National Stock Exchange's Nifty was at 2778.65, up 44.75 points or 1.63 per cent. The broader index touched an intra-day high of 2782.05 and low of 2733.45.
Bombay Stock Exchange's Sensex was at 8967.49, up 145.43 points or 1.65 per cent. The 30-share index hit a low of 8913.44 and high of 8974.25.
BSE Midcap Index was up 1.60 per cent and BSE Smallcap Index moved 1.55 per cent higher.
M&M (5.90 pc), Hindalco (5.38 pc), Reliance Infrastructure (4.81pc), Tata Motors (4.77 pc) and Suzlon (4.47 pc) were the top Nifty gainers.
Losers included ITC (-0.80 pc), Hindustan Unilever (-0.55 pc), Ambuja Cement (-0.51pc), BPCL (-0.28pc) and HDFC (-0.05pc).
Stocks open higher; Sensex, Nifty up 1pc
Stocks opened higher on Wednesday, Feb 25 in line with global markets, bouncing back in action after recent sessions of downfall. Realty and banks were frontrunners in the upmove.
Secondline stocks also picked up steam. Bombay Stock Exchange"s 30-share Sensex climbed 91.38 points or 1.28 per cent to 8913.44. National Stock Exchange"s benchmark Nifty rose 28.35 points or 1.07 per cent to 2762.25 from its previous close.
US stocks rose more than 3 per cent on Tuesday to snap back from 12-year lows, after Federal Reserve Chairman Ben Bernanke delivered a dose of relief when he signalled that nationalisation of big banks was not on the cards.
The Fed chairman"s remarks eased frayed nerves that the Treasury"s capital-injection plan would hurt banks" shareholders and lead to nationalisation. The Dow Jones Industrial Average rose 236.16 points, or 3.32 per cent, to 7,350.94. The Standard & Poor's 500 Index gained 29.81 points, or 4.01 per cent, to 773.14.
The Nasdaq Composite Index added 54.11 points, or 3.90 per cent, to 1,441.83.