Mumbai June 7 (IANS) Value buying coupled with positive global markets and normal progression of the monsoon lifted the key domestic equity indices for the second consecutive day on Thursday.
Market observers pointed out that the healthy buying in banking metal and capital goods stocks supported the key indices northward trajectory.
Index-wise the 30-scrip Sensitive Index (Sensex) of the BSE closed higher by 284 points or 0.81 per cent.
Similarly the wider 50-scrip Nifty of the National Stock Exchange (NSE) made substantial gains. It edged-higher by 83.70 points or 0.78 per cent to close at 10 768.35 points.
The S&P BSE Sensex which opened at 35 278.38 points closed at 35 463.08 points 284.20 points or 0.81 per cent higher from the previous day s close at 35 178.88 points.
The Sensex touched a high of 35 628.49 points and a low of 35 278.38 points in the intra-day trade
"Positive global cues and sustained buying by domestic institutional investors fuelled the rally " said Deepak Jasani Head of Retail Research at HDFC Securities.
"Broad market indices like the BSE Mid Cap and Small Cap gained more thereby outperforming the main indices."
According to Jasani major Asian markets closed on a positive note even as European indices like CAC 40 and DAX traded in the green.
Geojit Financial Services Head of Research Vinod Nair said: "The gradual tightening by RBI with a focus to get a balance between inflation and growth has given energy to the market. Mid and small caps outperformed as investors find value buying opportunity after the recent nose dive correction."
"Progressing monsoon and positive outlook on rural economy is giving boost to the economy which is already showing signs of improvement."
However on the currency front the Indian rupee weakened against the US dollar to 67.13 from its previous close at 66.92 per greenback.
Investment-wise provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 525.40 crore while the domestic institutional investors bought stocks worth Rs 1 197.89 crore.
Sector-wise the S&P BSE banking index gained 203.88 points the metal index was higher by 197.01 points and the capital goods index ended 194.94 points higher.
In contrast S&P BSE consumer durables index was down by 47.16 points.
The major gainers on the Sensex were Tata Steel up 3.73 per cent at Rs 601.35; Tata Motors up 3.32 per cent at Rs 305.30; Tata Motors DVR up 2.80 per cent at Rs 179.80; ICICI Bank up 2.52 per cent at Rs 290.95; and Axis Bank up 2.25 per cent at Rs 542.15 per share.
The top losers were Coal India down 0.69 per cent at Rs 289.05; IndusInd Bank down 0.58 per cent at Rs 1 904.70; Kotak Mahindra Bank down 0.57 per cent at Rs 1 308.45 State Bank of India down 0.24 per cent at Rs 269.25 and Bharti Airtel down 0.11 per cent at Rs 379.95 per share.

--IANS rv/vm