Mumbai: Equity indices found firmer ground on Thursday after three sessions of losses, buoyed by metal and IT counters, in tandem with a positive trend overseas after the US Federal Reserve reiterated its dovish policy stance.
A strengthening rupee and short-covering in select heavyweights added to the momentum, traders said.
The 30-share BSE Sensex climbed 209.36 points or 0.40 per cent to close at 52,653.07, while the broader NSE Nifty advanced 69.05 points or 0.44 per cent to 15,778.45.
Tata Steel hogged the limelight in the Sensex pack, rallying 6.87 per cent, followed by Bajaj Finserv, SBI, HCL Tech, Sun Pharma, Bajaj Finance and Reliance Industries.
On the other hand, Maruti, PowerGrid, Bajaj Auto, ITC, Dr Reddy's and HUL were among the laggards, shedding up to 2.21 per cent.
Sectorally, BSE metal, basic materials, realty and IT indices rallied as much as 5.54 per cent, while FMCG, telecom, power, oil and gas, auto and healthcare ended in the red.
Broader BSE midcap and smallcap indices rose up to 0.90 per cent.
World stocks advanced after the Federal Reserve kept rates at near-zero and said it is in no hurry to taper its asset purchase program.
Meanwhile, Chinese authorities met with banks to ease concerns about the recent regulatory crackdown on internet companies.
In Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with gains. Equities in Europe were also trading on a positive note in mid-session deals.
Meanwhile, international oil benchmark Brent crude rose 0.43 per cent to $74.19 per barrel.
Foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 2,274.77 crore, as per
exchange data.