Mumbai, July 27 (IANS) A benchmark index of Indian equities markets Friday was trading 284 points up in afternoon trade amid firm global cues and fresh buying in beaten down stocks.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,860.16 points, was ruling at 16,924.72 points, 1.71 percent or 284.90 points up from its previous day's close at 16,639.82 points.
The BSE metal index was up 264.30 points, followed by banking index, up 223.61 points and consumer durables, up 107.28 points.
The wider 50-scrip S&P CNX Nifty of the National Stock Exchange was ruling 1.80 percent up at 5,134 points.
The major Sensex gainers were Tata Motors, up 4.47 percent at Rs.214; Sterlite Inds, up 4.45 percent at Rs.102.10; Tata Steel, up 4.02 percent at Rs.399.60; HDFC Bank, up 3.62 percent at Rs.587; and Hindalco Inds, up 3.47 percent at Rs.117.85.
The main losers were Hero MotoCorp, down 1.04 percent at Rs.2,018; Cipla, down 0.35 percent at Rs.327; Dr Reddy's Lab, down 0.26 percent at Rs.1,618.50; Bajaj Auto, down 0.26 percent at Rs.1,579; and SBI, down 0.06 percent at Rs.2,016.
Other Asian markets were in the green after the American markets closed over 1 per cent up overnight Thursday as European policy makers said they would preserve the euro.
Japan's Nikkei was up 1.46 percent while Shanghai's composite index ruled 0.13 percent higher. Hong Kong's Hang Seng was also up 2.06 percent.
Europe's main stock markets advanced in opening trade Friday, extending the previous day's gains.