Among sectors, realty led the rally with a gain of 5.47 per cent followed by IT, oil & gas, banking and consumer durables. However, healthcare and FMCG sectors underperformed the index and were ended in red.
The Nifty ended at provisional 3065.45, up 44.50 points or 1.47 per cent over Tuesday"s close. The NSE benchmark saw a high of 3069.30 and low of 2965.70 during the day.
The BSE Sensex closed at provisional 9,914 higher by 206.30 points or 2.12 per cent from the previous close. Intraday, the 30-share index moved between 9,921.96 and 9,546.29 a band of around 375.67 points.
Sensex hovers near 9800; Ranbaxy, HDFC up
Indian benchmarks remained in the positive terrain Wednesday, Apr 1 despite the weak opening of European markets. Buying activity was seen in realty and IT stocks while FMCG and healthcare stocks remained under pressure. Selling after the poor opening of Europe was short-lived.
Bombay Stock Exchange"s Sensex was at 9823.47, up 114.97 points or 1.18 per cent. The main index hit a high of 9843.84 and low of 9546.29.
National Stock Exchange"s Nifty was at 3046.05, up 25.10 points or 0.83 per cent. The 50-share index touched an intra-day high of 3048.84 and low of 2965.70.
BSE Midcap Index was up 1.63 per cent and BSE Smallcap Index moved 2.46 per cent higher.
Ranbaxy Laboratories (8.21pc), HDFC (6.85pc), DLF (4.40pc), Reliance Communications (3.89pc) and Mahindra & Mahindra (3.60pc) were the top Sensex gainers.
Sun Pharmaceuticals (-3.99pc), Hindustan Unilever (-2.39pc), BHEL (-2.29pc), Tata Motors (-2.11pc) and Grasim Industries (-1.76pc).
Sensex off lows; realty, metals gain
Key indices were pared early losses and crawling their way up on the back of some value buying at lower levels. Realty and metals led the upmove while healthcare and FMCG space were down. Meanwhile broader markets continued to rise and outperform benchmarks.
At 10:30 am, Bombay Stock Exchange"s Sensex was at 9639.38, down 69.12 points or 0.71 per cent. The index touched an intra-day low of 9546.29 and a high of 9745.77.
National Stock Exchange"s Nifty was at 2990, down 30.85 points or 1.02 per cent. It hit a low of 2965.70 and high of 3032.90 in early trade.
Investors continued to show interest in broader market. BSE Midcap Index was up 0.99 per cent and BSE Smallcap Index gained 1.07 per cent.
Bharti Airtel (-3.80pc), Sun Pharmaceuticals (-3.67pc), Hindustan Unilever (-3.30pc), TCS (-2.87pc) and ITC (-2.22pc) were the major Sensex losers.
Gainers included Ranbaxy Laboratories (3.80pc), HDFC (3.03pc), Tata Power (2.25pc), Sterlite Industries (1.53pc) and Tata Steel (1.24pc).
Nifty falls below 3000; banks under pressure
After a positive opening, stocks gave away gains on Wednesday, Apr 1 in the first few minutes of trade despite positive cues from global shores. Banking stocks were the worst hit.
At open, Bombay Stock Exchange"s Sensex rose 37.27 points to 9745.75 but quickly pared gains to trade 113 points lower at 9606.83. National Stock Exchange"s Nifty fell 1.29 per cent to 2982.
Asian equities were also trading higher with the Nikkei surging 2.5 per cent and Topix rising 2.87 per cent. Hang Seng was up 0.33 per cent and Straits Times edged 0.47 per cent.