The Indian market which was languishing for most part of the day received a shot in the arm as Bahujan Samaj Party (BSP) Supremo Mayawati announced in parliament that her party would vote in favor of FDI in Retail.
The Indian equity markets ended at fresh 19-month high on Thursday as bulls extended their winning streak for the third trading session.
The day began with a positive gap but succumbed to selling pressure immediately following offloading in the Telecom, IT and the Healthcare segment. The Nifty even went below the 5900 mark. However, after hitting an intra-day low of 5838 the Nifty bounced back led by the interest rate sensitive stocks like Banking, Auto and the realty stocks. Among the other major gainers were the Power, Consumer Durables and the PSU socks.
Even the broader indices participated in today upswing, the BSE Mid-Cap and the Small-Cap index gained by 0.7% and 0.43% respectively.
Finally BSE Sensex closed at 19487, up 95 points over the previous close. It had earlier touched a day's high of 19523 and a day's low of 19186. It opened at 19475.
The NSE Nifty was quoting at 5,931, up 30 points over the previous close. It earlier touched a days high of 5,942 and a days low of 5838. It opened at 5,926.
RIL, ICICI Bank, Tata Steel, Tata Power, NTPC, Tata Motors, Maruti Suzuki, Dr Reddys Lab, SBI were among gainers in Sensex and Nifty.
Infosys, TCS, Wipro, Sun Pharma,Coal India, HDFC Bank, M&M, Bharti Airtel, Hero MotoCorp were among losers in Sensex and Nifty.
The INDIA VIX on NSE was down 8% to end at 15.24. It hit a days high of 16.62 and day's low of Rs15.02.
Shares of Tara Jewels listed at Rs242, a 5% premium to issue price of Rs230.
Maruti Suzuki reportedly said that it will increase the vehicle prices across all models by up to Rs 20,000 from January.
Globally, In Europe, the European stock markets were trading with smart gains as investors awaited the European Central Banks latest policy decision, due later in the day.
The FTSE index in UK was up 0.4%, DAX index in Germany gained 1% and CAC index in France was up 0.6%.
In Asia, markets ended on mixed note. Barring all the other indices the Nikkei index in Japan gained outperforming other indices as investors looked toward the nations general election later this month. The Nikkei index gained 0.8%.
On the other hand, the Hang Seng index in Hong Kong was down 0.2% and ASX 200 index in Australia slipped by 0.25%.