The 30-share index BSE Sensex continued its positive rally on account of good buying action witnessed across sectors.

However, a few blue chip stocks went down sharply on selling pressure.  

At 1:17 p.m, the BSE Sensex gained 265.07 points at 15,226.14, while NSE Nifty stood at 4566.25, up 63.40 points.

The overall market breadth was positive.

Manila - Philippine share prices soared 3.64 per cent on Wednesday as investors cheered sliding oil prices and Wall Street's overnight gains.

The 30-share composite index of the Philippine Stock Exchange added 94.83 points to close at 2,697.21, from Tuesday's finish of 2,602.38.

A total of 4.53 billion shares worth 3.66 billion pesos (83.56 million dollars) were traded.

Advancers led decliners 107 to 21, while 39 issues were unchanged.

Taipei - The Taipei stock market rose nearly 2 per cent Wednesday on a Wall Street rebound overnight.

Indian equities closed on an encouraging note, on Tuesday (August 05), on the back of good buying action seen across all segments, with Bankex (6.65%) and Realty (6.56%) sectors being the major gainers among the sectoral indices.

Volatility jitters, which were seen during the early trading sessions, turned down in the late closing sessions with markets zooming 383.20 points.

BSE Midcap and Smallcap index closed the day positively after gaining 1.76% and 1.26% respectively.

Asian stocks reported a declension with mining companies being in the front line.

Tokyo - Japan's key Nikkei 225 Stock Average rose more than 2 per cent Wednesday on the overnight rebound in the US market.

The Nikkei index rose 287.24 points, or 2.22 per cent, to 13,201.9.

The broader Topix index of all first-section issues was also up 22.22 points, or 1.78 per cent, to 1,269.93.

The Tokyo market sentiment was boosted in morning trading after the US Federal Reserve's assessment that US economic activity expanded in the second quarter helped an overnight rise on Wall Street.

New York - US stocks posted strong gains on Tuesday after the Federal Reserve kept interest rates unchanged and the price of oil continued a steady decline from last month's record highs.

The Fed said it was keeping its benchmark federal funds rate unchanged at 2 per cent as the US central bank navigates the twin dangers of sluggish growth and high inflation.