The Bombay Stock Exchange benchmark Sensex on Wednesday rose by 107 points to a fresh eight-week high on buying by domestic and overseas funds, which took cues from firm global markets.
The 30-share index gained 106.90 points to close at 17,490.08 points. The key index managed to hold the highest level matching with that on January 20.
Brokers said a firming trend in the Asian region and a higher opening in Europe fuelled the market sentiment.
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In 30-BSE index stocks, 22 closed with gains while other eight closed with losses.
PSU sector index gained 2.04 per cent to 9,126.18 followed by healthcare index by 1.66 per cent to 5,170.66.
Metal index rose by 1.18 per cent to 17,751.82 and capital goods index by 0.94 per cent to 13,994.39.
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The wide-based National Stock Exchange index Nifty rose by 33.80 points to 5,231.90.
Asian markets were boosted by the US Federal Reserve’s announcement that it would hold key rates at near zero level for some time to stimulate fragile US economic recovery.
Hong Kong closed higher by 1.72 per cent, Shanghai by 1.93 per cent, while Singapore by 0.79 per cent. Tokyo closed up 1.17 per cent after the Japanese central bank doubled to USD 220 billion the short-term loan facility to banks.