Global markets help in bounceback

The Indian bourses made a tremendous bounceback after Tuesday's fall on the Sensex helped by global markets and strength in metal and realty stocks.

The index opened at 16,070 owing to strong Asian cues.The Hang Seng, the straits Times, the Seoul Composite Index and the Taiwan Weighted indices are up 1% each.

The Sensex ended at 16,387, up 365 points. The NSE Nifty ended at 4,917, up 111 points.

Tremendous strength in the realty, IT and metal stocks helped the BSE benchmark index to keep the upward momentum alive.

Positive opening of the Euroepan markets helped the Sensex extend its gains further to touch a high of 16,410, up 340 points from the day's low. Major European indices like the FTSE, CAC 40 and DAX are up over 1.5% each.

ICICI Bank which opened at Rs 815 ended at Rs 847, up 5% from its previous close taking cues from the strong global peers.

The market breadth was positive, out of 2,885 shares traded, 1,860 advanced and 909 declined on the BSE.

All the sectoral indices ended in the green, IT and the realty indices led the bounceback. It was followed by metal, auto and FMCG indices, up over 2% each.

TCS zoomed 5% to Rs 736 and HCL Technology advanced 4%, respectively on the IT index.

The BSE Midcap and the smallcap indices have underperformed the Sensex, up 1.5% each.

Shree Global TradeFin and Gujarat Mineral Development Corporation advanced over 9% each on the midcap index.

Thiru Arooran and Hanung Toys rallied 16% each to Rs 155 and Rs 206, respectively on the smallcap index.