The Nifty broke the key resistance of its 200 day moving average and was trading above the psychological 5,000 mark.
Stocks from the Reliance stable- Mukesh's and Anil's- rose sharply. RIL was up 3.8 per cent and significantly contributed to the rise in the index. RNRL was up 23.8 per cent. Reliance Infra was up 10.6 per cent, Reliance Communications rose 10.8 per cent and Reliance Capital rose 7.9 per cent.
All the sectoral indices were in the green with oil and gas leading the broad based gains. The oil index was up 2.8 per cent mainly on account of RIL doing well. Metals rose 2.3 per cent while realty gained 1.5 per cent.
The broader markets were in the green. The BSE small cap index was up 2.3 per cent while the mid cap index was up 1.7 per cent.
Other gainers were Godrej Consumer Products Limited that rose 1.06 per cent on the back of its acquisition of Issue group in Argentina. ICICI Bank rose 1.4 per cent while Bank of Rajasthan rose 9.9 per cent.
Among the losers were TCS, Cipla and HDFC.
Asian stocks markets were mostly higher today. China was leading the gains with the
Shanghai Composite gaining 3.48 per cent while there was some weakness as far as Japan was concerned. Japan's Nikkei was down 0.27 per cent. South Korean Kospi was up 0.3 per cent while the ASX 200 index in Australia rose 2 per cent.
In New York on Friday, the Dow Jones industrial average rose 1.3 percent to 10,193.39, making back some of the steep losses recorded recently amid renewed worries about Europe's debt problems.
The broader Standard & Poor's 500 index rose 1.5 percent to 1,087.69, and the Nasdaq composite index added 1.1 percent to 2,229.04
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