The benchmark BSE Sensex zoomed over 372 points to 25,517.78 and the broader NSE Nifty reclaimed the 7,800-mark in early trade on Wednesday on the back of positive macroeconomic data.
Besides, a firming trend in other Asian markets, tracking rallies in the US and Europe as oil prices pushed up to 2016 highs on reports of an Russia-Saudi Arabia agreement to freeze output, buoyed sentiment.
The 30-share barometer spurted 372.19 points or 1.48% to 25,517.78 with all the sectoral i ndices, led by banking, auto and infrastructure, rising up to 2%. The gauge had gained 471.75 points in previous two days.
The NSE index Nifty recaptured the 7,800-level by climbing 112.35 points or 1.46% to 7,821.30.
Brokers said buying activity picked up on positive economic data as industrial production expanded at 2% year-on-year in February after staying negative for the last three months on better performance of mining, power and consumer goods. Retail inflation falling to a six-month low of 4.83% in March, too had a positive impact, they said.
Among other Asian markets, Japan’s Nikkei rose 2.64% while Hong Kong’s Hang Seng was up 2.19% in early trade. China’s Shanghai Composite index rose 2.08%. The US Dow Jones Industrial Average had closed 0.94% higher in Tuesday’s trade.
