Boosted by fag-end buying spurt, the benchmark S&P BSE Sensex today reclaimed the 20,000-mark with a 180-point boost on hopes of continued earnings momentum amid assurances by US Fed about maintaining its stimulus programme.
ONGC, HDFC Bank, Infosys, L&T, Bharti Airtel, HDFC, ICICI Bank and SBI shares together added almost 150 points to the key index's gains.
The 30-share Sensex resumed higher and stayed in positive terrain through the day, before settling at 20,128.41, a gain of 179.68 points, or 0.9 per cent. The index had closed at 20,215.40 on May 30. Yesterday, it gained 0.49 per cent.
"The week has been intensely volatile on varied cues, both domestic and international," said Amar Ambani, head of research at India Infoline. "Dealers expect volatility to perk up on Friday, given the weekly close and results by index major Reliance Industries."
The 50-stock CNX Nifty on the NSE climbed 64.75 points, or 1.08 per cent, to end at 6,038.05, a six-week high. The SX40 index on the MCX-SX gained 1.05 per cent.
All 13 BSE sectoral indices closed with gains ranging from 0.24 per cent to 2.53 per cent, led by realty, banking, consumer durable, PSU, capital goods and refinery segments.
Oil exploration giant ONGC was the top gainer on the Sensex, rising 4.42 per cent, after reports that a foreign brokerage upgraded the stock to 'buy' from 'outperform.'
Foreign Institutional Investors (FIIs) sold shares worth Rs 26.09 crore, while domestic institutional investors were net sellers worth Rs 73.86 crore on Wednesday, according to provisional data from the National Stock Exchange.
US Federal Reserve chief Ben Bernanke stated yesterday the bank had no plan to wind down its stimulus until the economy was back on track.
Global financial services firm Macquarie today lowered India's growth forecast for this fiscal to 5.3 per cent from 6.2 per cent previously, citing significant capital outflows and rupee depreciation.
Other key factors for the downgrade include political uncertainty and a continued slowdown in new project inflows delaying a capex cycle recovery, Macquarie said.
Asian stocks closed mixed after US Federal Reserve