Mumbai: Key Indian equity indices on Thursday surged to provisionally close with appreciable gains led by robust buying in auto, consumer durables and capital goods stocks. 30-share BSE Sensex gained 84.99 points to start trading on 33,034.20 and 50-share NSE Nifty opened on 10,198.45, up by 31.75 points.
Dalal Street saw investors hunting for bargains in recently-battered bank, auto and metal stocks, that came under the weather in the previous session on the back of the central bank's decision to hold repo rates in its sixth bi-monthly monetary policy meeting. The laggards included Coal India (-0.64%), TCS (-0.52%), Cipla (-0.50%), Wipro (-0.34%) and Sun Pharma (-0.26%). SBI, ICICI Bank, Axis Bank, HDFC Bank, Bank of Baroda, Punjab National Bank and Yes Bank fell by up to 2.27 percent.
Brokers said unabated buying by retail and domestic institutional investors and a firm trend in other Asian markets influenced sentiment here.
"On the macro front upcoming RBI policy and Gujarat state election will be an influential factor for investors which is steering the market to consolidate", said Vinod Nair, Head of Research, Geojit Financial Services.
In the global markets, Asian shares hovered near two-month lows on Thursday as softer oil and copper prices and uncertainty over U.S. policy kept many investors on the sidelines, even as some high-tech bellwethers bounced back after a searing sell-off. Japan's Nikkei fell 1.97 percent, Hong Kong's Hang Seng shed 1.63 percent while China's Shanghai Index was down 0.29 percent, extending a retreat across Europe and NY.
Union Bank of India shed 0.6 percent on fund raising reports.
The US Dow Jones Industrial Average ended 0.16 per cent down yesterday.