Mumbai, Dec 1 (IANS) A benchmark index for Indian equities Thursday closed nearly 360 points higher after paring some of its early gains. The markets responded to positive sentiments in global bourses after central banks of developed countries said they would enable banks to lend more to stimulate growth.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,555.93 points, closed at 16,483.45 points, 359.99 points or 2.23 percent up from its previous close at 16,123.46 points.
It had risen almost 595 points to an intra-day high of 16,718.11 points in early trade.
The 50-scrip S&P CNX Nifty of the National Stock Exchange also closed in the green at 4,936.85 points, up 2.17 percent or 104.8 points from its previous close.
Broader markets also closed in the positive with the BSE 500 index moving up 1.76 percent. The BSE midcap index closed 0.97 percent up while the BSE smallcap index gained 0.43 percent.
Metals, banking, realty and consumer durables stocks saw robust buying. Except healthcare, 12 out of the 13 sectoral indices on the BSE closed in the green.
The market breadth was positive, with 1,689 stocks advancing and 1,114 declining. Another 117 remained unchanged.
Among gainers on the 30-scrip Sensex were ICICI Bank, up 6.76 percent at Rs.762.45; Tata Motors, up 6.06 percent at Rs.182.90; DLF, up 5.34 percent at Rs.218.15 and Tata Steel, up 4.6 percent at Rs.402.60.
Heavyweights like SBI and RIL too moved up.
The losers on the benchmark included BHEL, down 2.46 percent at Rs.275.25; Bharti Airtel, down 1.65 percent at Rs.378.95; Hindustan Unilever, down 1.29 percent at Rs.391 and Maruti Suzuki, down 0.69 percent at Rs.962.
Asian markets shot up Thursday after the central banks of developed countries said they would coordinate between themselves and come up with measures to stimulate lending.
The US Federal Reserve, the European Central Bank, and the central banks of the UK, Canada, Japan and Switzerland will start freeing up funds so that banks can lend more.
In a separate move, China said it would initiate similar steps.
The Japanese Nikkei closed 1.93 percent higher at 8,597.38 points. Hong Kong’s Hang Seng rose 5.63 percent and closed at 19,002.26 points.
The Chinese Shanghai composite index ended 2.29 percent higher at 2,386.86 points.
European markets were ruling dull as traders took a breather after the previous session’s rally and European Central Bank President Mario Draghi warned that downside risks had increased.
Britain’s FTSE 100 was ruling 0.42 percent up at 5,528.43 points, while the German DAX was trading 0.35 percent down at 6,067.26 points.
The French CAC 40 was ruling 0.33 percent down at 3,144.33 points.
