Markets finished higher for the second straight session on Thursday, with benchmark Sensex rising 86 points as investors snapped up recently beaten down counters amid upbeat global cues.
Brokers said a mixed trend at other Asian markets after crude oil prices rebounded from an overnight sell-off and Japan’s stronger-than-expected exports in March bolstered sentiments.
Back home, mid-cap and small-cap stocks attracted value buying after a week-long consolidation, which added to the momentum.
The Sensex opened strong and shuttled between 29,453.06 and 29,341.68, before ending at 29,422.39, a gain of 85.82 points, or 0.29 per cent.
The barometer had gained 17.47 points in Wednesday’s trade.
On similar lines, the 50-share NSE Nifty stayed in the green throughout the session and hit a high of 9,143.90, before closing at 9,136.40, up 32.90 points or 0.36 per cent.
Meanwhile, foreign portfolio investors (FPIs) net sold shares worth Rs 673.38 crore during Wednesday's trading session, as per provisional data.
"Though large-caps remained sluggish, mid and small-caps remained higher after a week-long consolidation attracted value buying.
"IT stocks' recovery amid rupee giving away some of its gains, lent market support, while European markets' rally ahead of French presidential elections also boosted sentiments," said Anand James, Chief Market Strategist, Geojit Financial Services.
The BSE Mid-Cap index provisionally rose 0.66 per cent, while the Small-Cap index gained 1.14 per cent.
IT stocks, that had lost ground on disappointing quarterly earnings, recovered on value-buying at existing lower levels.