Markets regain momentum; Sensex zooms over 300 points; Nifty reclaims 9,900-mark

New Delhi: The benchmark BSE Sensex surged over 300 points and the NSE Nifty reclaimed the 9,900- level in closing hour of trade Wednesday, enthused by higher capital inflows by domestic investors.

The 30-share barometer, which had gained 235.44 points in the previous session on Monday, was trading higher by 306.57 points, or 0.97 percent, at 31,755.60, with FMCG, auto, power, consumer durables, IT, metal and realty stocks leading the gains.

Markets remained closed yesterday on account of Independence Day.

On similar lines, the NSE Nifty was up by 91.75 points, or 0.94 percent, at 9,885.90.

Tata Motors went up the most among Sensex constituents by climbing over 3 percent, followed by Cipla (up 2.98 percent). The key indices derived support from ITC (2.95 percent), Sun Pharma (2.65 percent) and HUL (2.54 percent), too.

Coming to sectors,  FMCG hit it off with a gain of 2.43 percent. PSU bank, auto and metal did not disappoint either.

Brokers said sentiment remained upbeat on the back of persistent buying by domestic institutional investors (DIIs) even as retail inflation jumped to 2.36 percent in July.

Wholesale inflation too rose sharply to 1.88 percent in July -- first rise in five months -- as some food articles turned dearer even as the industry pitched for cut in interest rates citing weak industrial activity.