The stock markets closed the day in the green on Friday after the Republic Day holiday on Thursday. Indian benchmark indices, Nifty and Sensex, rose under one per cent.
The Nifty was up 46.40 points or 0.9 per cent to close at 5,204.70, while the Sensex was up 156.80 points or 0.92 per cent to close at 17,233.98.
“Positive cues from Asia helped Asian markets and had a positive impact here as well. Almost all base metal stocks went up on the expectation that after the one-week holiday in China, the demand for metals would increase,” said Mr Alex Mathew, Head Research at Geojit BNP Paribas Financials Ltd.
“Value-buying in Reliance stocks due to the buyback offer and movement in IT stocks, especially TCS and Infosys, helped the markets recover today,” he added.
Oil and gas, consumer durables, tech and metal stocks led the rally while realty, FMCG and bank stocks took a beating.
Volatility was up, with the India Vix closing up 3.23 per cent at 21.70.
Sesa Goa, SAIL, Sterlite, Grasim and L&T were the top five Nifty gainers while Ranbaxy, PNB, DLF, J P Associates and BHEL were the losers on the Nifty.