The 30-scrip Sensitive Index (Sensex) was trading 234.05 points or 0.72 per cent higher soon after opening. "Broad market indices like mid-cap in the NSE has closed marginally higher (up 0.21 per cent) and in the BSE closed on a flat note (up 0.04 per cent)", Deepak Jasani, Head - Retail Research, HDFC Securities, told IANS.
The rupee appreciating 19 paise to 64.89 against the dollar today gave a leg to the rally. "Investors are sitting with a hope that the ongoing quarter result season is likely to be better as compared to Q1 due to a positive start which gives leeway to the valuation".
Globally, Asian markets ended broadly higher as Chinese inflation data for September met expectations and finance ministers from around the world expressed their desire for lower interest rates at a weekend meeting of the International Monetary Fund.More news: North Korea hackers stole South Korea-US war plans: Lawmaker
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Among specific stocks, shares of Bharat Financial Inclusion scaled to a seven year high level of Rs 1,046.70 in trade.
Sector-wise, the S&P BSE banking index surged by 365.34 points, followed by metal index by 167.34 points and telecom index by 74.87 points. On the other hand, healthcare index was down 0.29 per cent, FMCG 0.25 per cent, capital goods and oil & gas 0.14 per cent each.
Meanwhile, rally in pharma stocks such as Sun Pharma (up 2.48 per cent), Cipla (up 2.34 per cent), Dr Reddy's Laboratories (up 2.08 per cent), Aurobindo Pharma (up 1.64 per cent), Glenmark Pharmaceuticals (up 1.40 per cent) and Lupin (up 0.77 per cent) further uplifted the sentiment.