Sensex closes 357 points up on global rally

A global rally sponsored by reforms and stimulus measures by the Chinese government supported the Indian equity markets leading to a barometer index closing with gains of 357 points on Wednesday.

Back home, the positive signs coming from the government on the reforms front, Prime Minister Narendra Modi's meeting with industry representatives, upcoming seventh pay commission and a stable rupee supported the upward movement of the markets.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) made substantial gains a day after it rose 424.06 points or 1.70 percent.

A rally was also seen on the wider 50-scrip Nifty of the National Stock Exchange (NSE). The CNX Nifty provisionally closed higher by 117 points or 1.52 percent at 7,805.10 points.

The S&P BSE Sensex, which opened at 25,682.87 points, provisionally closed at 25,674.60 points (at 3.30 p.m.) -- up 356.73 points or 1.41 percent from the previous day's close at 25,317.87 points.

The Sensex touched a high of 25,820.56 points and a low of 25,553.61 points in the intra-day trade.