Indian equities closed on a positive note on Friday, Aug 29 on account of decline in inflation numbers and encouraging signs from US and Asian markets, which backed up the market despite reduction in Q1 GDP growth.

Midcap and smallcap stocks also supported the sharp run.  

After opening the day at 14,279.02 with a gain of 230.68 points, the 30-share index, BSE Sensex remained strong all-through the day.

Banking and realty stocks, two interest rate sensitive counters that battered quite some times in the immediate past on worries over RBI constraining the money supply to control rising inflationary figures, showed a smart rally and ended the day after making a hefty gain of 6.27% and 5.10% respectively.

PSU, metal and power indices ended up by more than 3 per cent.

Finally, the Sensex marked its closure at 14,564.53, up 516.19 points. It also touched an intra-day high of 14,586.16 and an intra-day low of 14,279.02.

On the other hand, the broad-based NSE Nifty surged 146.00 points to end at 4,360.00 after touching a high of 4,368.80 and a low of 4,230.60.

The overall market breadth was sharply optimistic as it saw 1,851 advancements as against 790 declinations.

Major gainers in the Sensex were State Bank Of India, which gained 7.19%, Reliance Energy surged 5.97%, ICICI Bank zoomed 5.93%, Tata Motors climbed 5.44%, DLF profited 5.35% and Jaiprakash Associates shot up 5.16%.

There were no losers at the BSE Sensex.

The total turnover on BSE amounted to Rs 5408 crore as compared to Rs 4085 crore during the session.