New Delhi: The markets ended firm with the benchmark index surging 496 points to 14,287 levels, as a drop in oil prices and stronger international markets boosted sentiment.
The broader NSE index was up 124 points 4,313 levels.
“Worries about FIIs remaining net sellers of equities in the domestic market and recent spike in crude oil prices could force the players to remain on the sidelines,” said an analyst with Sharekhan.
“The Nifty, on the downside, may dip to 4,150 while on the upside it may test 4,260 levels. The Sensex has a likely support at 13,600 and may face resistance at 14,100 levels,” he added.
Of the 30 Sensex components, only two counters — ITC limited and NTPC ended in negative turf.
Leading the pack of gainers among the BSE -30 scrips were HDFC and Tata Steel that moved up over 7% each. Reliance Infra, State Bank of India, Grasim Industries, Infosys Technologies, Reliance Industries and HDFC Bank also gained considerable ground.
Among sectoral indices, the banking index, Bankex, was the top gainer, moving up 5.2% or 323 points. Axis Bank, Bank of Baroda, Kotak Mahindra Bank, Yes Bank, Union Bank of India and Punjab National Bank were the key gainers in this pack besides HDFC Bank, SBI and ICICI Bank.