The Sensex ended in positive led by banking stocks. Select buying and selling was seen in frontliners. It belled the day on a firm note, with a gain of 125.50 points, at 9,549.52 tracking global cues. It gained further strength touching a high of 9,699, as global markets found some relief in the US plan to get rid of the bad assets in the banking sector, which sparked hopes for stability in the financial system. Even Nifty hit the mark of 3,000 in intraday trades. However, the index failed to maintained its ground and fell into the negative terrain, touching a low of 9,402.64 to finally bounce back into positive at the close.
BSE Midcap and Smallcap index declined 0.58% and 0.68% respectively.
On global front, Asian stocks rose on optimism the US Treasury`s plan to remove banks` toxic assets will revive economic growth. Nikkei gained 272.77 points, or 3.32%, to end at 8,488.30, Hang Seng index climbed 462.92 points or 3.44%, to close at 13,910.34 and Shanghai Composite increased 12.94 points, or 0.56%, to settle at 2,338.42.
European stocks are trading mixed. FTSE 100 dropped 43.42 points, or 1.10%, to trade at 3,909.39, CAC 40 rose 3.09 points, or 0.11%, to trade at 2,872.66 and DAX rose 10 points, or 0.24%, to trade at 4,186.37. (4.00 p.m., IST)
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