Sensex up 252 points on firm global cues

Written by Reuters | Mumbai | Updated: Sep 30 2011, 09:14am hrs
Indian shares pared early losses to end up 1.5% as investors covered short positions and on optimism ahead of a crucial vote in the German parliament that approved new powers for the euro zone's rescue fund.

Autos and banking sector stocks led the rise. Private sector bank ICICI Bank ended 2.5% higher and top mortgage lender Housing Development Finance closed 2.4% higher on bargain hunting.

The 30-share BSE index closed up 1.53%(252.05 points) at 16698.07 points. Our markets are just mirroring what is happening in the world right now, and European markets are positive, said Neeraj Dewan, director at Quantum Securities. And today being expiry some short covering has also happened.

The 50-share Nifty closed up 1.41% at 5,015.45. There were 1.3 losers for every gainer in the broader section, with 684.1 million shares changing hands.