citing the reasons for the upbeat mood in the markets.
The 30-share BSE Sensex rose 328 points or 1.75% to close at 19,170, while the broader 50-share Nifty rose 1.7% or 97.5 points to 5,825. Both the benchmark indices are up more than 11% in the last three months on hopes of policy reforms and receding global woes. Despite the uptick, the BSE Sensex is currently trading at 16 times its FY13 earnings, which is in line with its long-term averages.
The story was similar for European indices, which opened strong on Thursday. The FTSE and DAX were up 0.87% and 0.70%, respectively, while the CAC 40 was up more about 1% late evening India time.