The gains were broad-based as the S&P BSE MidCap and S&P BSE SmallCap Indices climbed over 0.7 per cent each. Indian equity benchmarks moved sharply higher pace by gains in ONGC, Reliance Industries, Coal India, State Bank of India and Hero MotoCorp. The S&P BSE Sensex rose as much as 259 points or 0.70 per cent to 36,930.51 and the NSE Nifty 50 Index crossed over its psychologically important level of 11,100, index.
All the 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Telecom Index's 1.5 per cent gain. S&P BSE Energy, Auto, Consumer Durables, METAL and Oil & gas Indexes also rose over 1 per cent each.
The gains were broad-based as the S&P BSE MidCap and S&P BSE SmallCap Indices climbed over 0.7 per cent each.
"Global funds are flowing towards India and that's why Indian markets are rising and they will continue to do so in the near term," AK Prabhakar, head of research at IDBI Capital told NDTV over phone.