Mumbai: The BSE benchmark Sensex rose by over 320 points in mid-session trade Friday following a rally in Asian shares that rose after the European Central Bank boosted market sentiment by signaling its resolve to defend the eurozone.on buying by funds and retailers.
Brokers said emergence of buying by funds and retail investors, tracking a firming trend on Asian bourses, following overnight gains at the US markets after the head of the European Central Bank pledged to protect eurozone from collapse, buoyed the trading sentiments here.
The 30-share barometer, which lost over 278 points in the previous two sessions, rose by 319.53 points, or 1.92 percent, to 16,967.10 with all the sectoral indices, led by metals banking and capital goods, gaining up to 2.96 percent.
The wide-based National Stock Exchange index Nifty, regained 5,100 points level by rising 98.80 points, or 1.96 percent, to 5,141.80.
US stocks rode a wave of hope inspired by comments from European Central Bank President Mario Draghi on Thursday, ignoring mixed corporate results to focus on the strongest signal yet of the ECB's intentions to protect the eurozone.
Asian shares rallied on Friday after the European Central Bank boosted market sentiment and steadied the euro by signalling its resolve to defend the eurozone.
With Agency Inputs
First Published: Friday, July 27, 2012, 11:48