Sensex up 507 points, Tuesday's losers turn gainers

Mumbai, Nov 4 : A benchmark index of the Indian equities markets rallied smartly to end 507 points higher Wednesday, recouping the previous day's losses and more.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened higher at 15,487.97 points, shut shop at 15,912.13 points, 507.19 points or 3.29 percent above Tuesday's close at 15,404.94 points.

Around the same time, the S&P CNX Nifty of the National Stock Exchange (NSE), too, was in positive terrain at 4,710.8 points, up 3.22 percent or 146.9 points from its last close.

Buying activity increased in mid-to-small capitalised scrips as well, with the BSE midcap closing 3.54 percent higher and BSE smallcap index ending 2.18 percent up.

Realty, metals and IT stocks gained the most in Wednesday's rally.

The market breadth was positive, with 1,774 stocks advancing, 946 declining and 59 remaining unchanged.

The Reliance Industries scrip rose 5.49 percent , while Infosys stock moved up 4.69 percent.

Among the other gainers on the Sensex were Jaiprakash Associates, up 9.42 percent at Rs.212.65; Hindalco, up 9.16 percent at Rs.119.15; DLF, up 8.48 percent at Rs.365.10, and Sterlite, up 6.63 percent at Rs.770.05.

Among the only three Sensex losers were Sun Pharma, down 0.78 percent at Rs.1,375.15; Grasim Industries down 0.39 percent at Rs.2,167.15, and Tata Power, down 0.19 percent.

Other Asian markets closed in the green as well.

The primary index of the Hong Kong Stock Exchange, Hang Seng, closed 374.71 points or 1.76 percent higher at 21,614.77 points.

The Kospi, benchmark index of the Korean Stock Exchange, ended at 1,579.93 points, up 30.01 points or 1.94 percent.

The Nikkei, a key index of the Tokyo Stock Exchange, closed 41.36 points or 0.42 percent higher at 9,844.31 points.

The Shanghai Stock Exchange composite index shut shop at 3,128.54 points, up 0.46 percent.

European markets were trading weak with Britain's FTSE 100 index ruling only 0.84 percent higher at 5,079.34 points and its German peer, DAX, similarly ruling at 5,428.62 points, up 1.41 percent.

The French index, CAC 40, was trading 1.61 percent up at 3,641.84 points.