Heavy buying interest in frontline stocks propelled key indices to close in the positive. Banking stocks continued to lead the advances followed by cement stocks. Bajaj Auto plunged 9% on the demerger news and disappointing Q4 results. Tata Steel's impressive performance in the March quarter pushed the stock up 1.5%.
The BSE Sensex closed 172 points or 1.22% up at 14,299. The NSE Nifty was up 39 points or 0.92% at 4219. BSE Midcap Index was up 0.65% at 6,080 while the Smallcap Index slipped 0.01% to close at 7205.
Of a total of 2,676 shares traded on the BSE today, 1,241advanced, 1,355 declined and 80 were unchanged.
State Bank of India, up 3.47% at Rs 1,329, Reliance Industries, up 3.15% at Rs 1,685, Dr Reddy's Laboratories, up 2.21% at Rs 678 and Tata Motors, up 2.05% at Rs 750, were the major gainers on the Sensex.
Banking stocks continued to rally upward with SBI and ICICI Bank in the lead. HDFC (up 0.71%) and HDFC Bank (up 0.23%) gained on account of expectations of the merger of the two entities.
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