The Bombay Stock Exchange (BSE) Sensex rose 449 points, while the National Stock Exchange (NSE) Nifty moved above 11,855 points on positive cues from global markets and buying in banking and financial companies stocks in the domestic markets. The BSE Sensex gained 448.62 points, or 1.12 percent, to reach 40,431.60 points based on 30 company shares, while the NSE Nifty index rose by 110.660 points, or 0.904 percent, to 11,873.05 points.
ICICI Bank climbed more than five per cent among the Sensex stocks. This was followed by the rise in the share prices of Axis Bank, Nestle India, State Bank, HDFC, ONGC and Kotak Bank. In contrast, shares of Bajaj Auto, TCS, Bharti Airtel, Mahindra & Mahindra and Maruti declined.
According to traders, the start of operations in the domestic markets started with an upward trend after receiving positive signals from global markets. Stocks of banking, financial, oil and gas, metal and realty companies gained momentum. The stock markets of Hong Kong, Tokyo and Seoul closed in a positive fashion. On the other hand, Shanghai's stock market collapsed after China's GDP figures were released.
Brent crude oil, the benchmark for crude in the international market, was down 0.16 percent to USD 42.67 a barrel. At the same time, the rupee fell two paise to close at 73.37 against the dollar in the foreign exchange market.