New Delhi: Markets maintained their opening rally through the day to end 1.2% higher on Wednesday riding on positive cues from European and Asian markets.
All indices traded in green, with realty outperforming by making gains to the tune of 8.4%. Further metal, capital goods, banking and oil and gas stocks also witnessed significant buying momentum.
The Bombay Stock Exchange benchmark Sensex advanced by 1% in early trade on Wall Street rise spurred by surprisingly good housing data. Sensex then crossed the psychologically strong 9,000 mark along with NSE Nifty touching 2,800.
But the 30-share BSE index suffered small losses slipping from 9,000 mark to close at 8,976.68 or 112.86 points up. The 50-share NSE Niftty also dropped to end 37.25 points higer at 2,794.70.
Realty stocks advanced on hopes lower rates will spur housing demand. DLF Ltd stocks led the rally on the BSE index, rising by 7.76% to Rs171.45, Jaiprakash Associates was up by 6.46% to Rs79.15 and Reliance Infrastructure by 3.51% to Rs480.40.
Financial stocks continued to be strong with ICICI Bank surging by 3.41% to Rs335.20, HDFC Bank by 2.09% to Rs842.65 and State Bank of India by 1.20% to Rs960.95.
Other heavy weight gainers were Tata Steel up by 4.54 % to Rs176.30, Bhel by 4.28% to Rs1,458.60, Sterlite Industries by 3.13% to Rs301.70 and Hindalco by 3.09% to Rs45.05.
There were some major losers also Mahindra and Mahindra fell by 4.09% to Rs362, along with Tata Power by 2.40% to Rs660.50, ITC Ltd by 2.11% to Rs169.45 and ACC Ltd by 1.46% to Rs548.40.
Meanwhile, in Asia Japan’s Nikkei after a brief slip to red edged up to its highest close in five weeks at 0.29% and Hong Kong’s index Hang Seng also rallied to end 1.9% up.