The BSE benchmark Sensex rallied by 287 points in the late morning trade on relentless buying, mainly in IT, metal, tech, auto and customer robust sectors.
The BSE benchmark Sensex rallied by 287 points in the late morning trade on Thursday on relentless buying, mainly in IT, metal, tech, auto and customer robust sectors, on the back of higher Asian indications coupled with increase of rupee value against the dollar.
Capital goods essentials gained for the second day consequently. Bajaj auto edged higher after the company registered better than expected September sales.
In the foreign exchange market, the rupee was floating at 61.95 per dollar as against the last close to 62.46.
The Sensex continued higher at 19,585.79 and firmed up further to 19,823.95 before quoting at 19,804.35, showing gains of 287.20 points or 1.47 percent from last close.
The NSE 50-share Nifty also rose by 90.20 points or 1.56 percent to 5,870.25.
Some of the foremost gainers were TCS, Sesa Goa, Wipro, Bajaj Auto, Tata Steel, Coal India and M&M.
Asian shares advanced in the early trade, shaking off a feeble start following a hopeful reading on manufacturing activity in China.
Key benchmark index in Japan, Hong Kong, Taiwan and Indonesia gained 0.11 percent to 1.5 percent while Singapore Straits Times fell by 0.1 percent. Markets in mainland China are closed till 7 October for National Day holidays.
US stocks showed a downward trend yesterday as investors watched for progress on ending logjam over federal spending that shut the government consequently for the second day.
