Sensex ends above 17k, Nifty above 5k

Indian equities wrapped the day on a cheerful note supported by metal, oil & gas, power, capital goods and IT stocks. It belled positive with a gain of 31.96 points, at 16,723.96 on Wednesday on firm Asian shares. It continued to trade higher on sustained buying interest seen in pivotal stocks among the investors ahead of long weekend. The index in the second half gained further ground, regaining 17,000 mark on the back of domestic institutions and mutual funds. Finally the index rallied further to close on a buoyant note after touching a high of 17,252.09. Broader markets and opening of positive European markets also led the upsurge.

BSE Midcap and Smallcap index rose 1.57% and 1.51% respectively.

The Sensex ended the day with a gain of 539.11 points, or 3.23% at 17,231.11 after touching a high of 17,252.09 and a low of 16,723.96. The broad-based NSE Nifty gained 158.75 points, or 3.18% at 5,144.60 after hitting a high of 5,150.60 and a low of 4,990.05.

All shares in the Sensex settled on a positive note. Major were Hindalco Industries (7.77%), NTPC (6.96%), Sterlite Industries (India) (5.05%), Reliance Industries (4.62%), Tata Steel (4.45%), and ICICI Bank (4.30%).

Overall market breadth was sharply positive. Out of the total 2,922 stocks traded at BSE, 1,907 advanced, 924 declined while 91 remained unchanged.

All sectoral indices settled positive. BSE Metal rose 4.05%, Oil & Gas climbed 3.43%, Power gained 3.37%, Capital Goods rose 2.99% and IT climbed 2.95%.

European stocks rose, sending the Dow Jones Stoxx 600 Index to a 14-month high, before reports that may show US consumer spending and new-home sales increased