Indian stock markets belled the day on a firm note on account of positive global signs and sharp rally seen because of short coverings in yesterday’s session (Oct 13). 

IT, realty, banking, metal and power sectors moved up sharply. 

Mid-cap stocks gained 2.96%, while small-cap shares surged 1.83% today.

Asian stocks zoomed, driving Japan’s Nikkei 225 stock average to its largest gain in the last 18 years, after the US and European authorities decided to buy equity stakes in banking institutions. 

The 30-share index, BSE Sensex opened with a huge positive gap of 472.34 points, at 11,781.43 on Tuesday. 

The BSE Sensex, on Oct 13, closed the day with a gain of 808.81 points, while the NSE Nifty climbed by 210.75 points. 

Bulls staged a strong comeback on Monday as reactions turned positive on assuring comments from Finance Minister P Chidambaram. 

At 10:27 a.m., the Sensex stood at 11,821.91, up 512.82 points, whereas Nifty zoomed 135.85 points at 3626.55.

The overall market breadth was sharply positive as it witnessed 1,073 progressions as compared to 140 declinations. 

The major gainers list included Wipro (10.44%), Satyam Computer Services (8.94%), ICICI Bank (7.50%), Larsen & Toubro (7.05%), Reliance Energy (6.86%) and Jaiprakash Associates (6.44%).

There were no losers at the 30-share index.

Stock market analyst, Vishwas Agarwal said that with Bombay Stock Exchange (BSE) above 11,376 level, market may touch 11,555 and 11,786 level. 

Worldwide markets are on recovery ground after slaughter but due to panic, now reversal will also happen in the same form. 

He said that investors can take opportunity in trading activity and sell bad stocks and generate liquidity for buying quality Index based stocks that will provide good returns whenever markets will start to move upside.

“Volatility will be there so trade with a stoploss. As earlier said, 10,500 is the base level for the Indian markets, fall below that level is unfair. When the 10,500 level comes buy with confidence as stocks bought at this levels will give good profit, it doesn`t matter if it will go down below 9,500 or 9,000,” he added.