Mumbai, Apr 18 (IANS): A benchmark index of the Indian equities markets was trading more than half a percent up Thursday after a smart rally by interest sensitive stocks like banks, capital goods and automobile on hopes of an interest rate cut by the central bank early next month.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the red at 18,695.34 points, was trading at 18,883.94 points in the late afternoon session, up 0.82 percent or 152.78 points from its previous day close at 18,731.16 points.

The Sensex touched a high of 18,886.30 points and low of 18,691.61 points in the intra-day.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) was trading 0.83 percent or 47.20 points up at 5,735.90 points.

There was good buying support in interest sensitive stocks like banks, capital goods and automobile on hopes of an interest rate cut by the central bank early next month.

The BSE bank index was up 209.81 points. Capital goods index was trading 145.61 percent higher and automobile index was up 103.62 points higher.

However, the informational technology (IT) index fell 24.42 points. The metal index was down 21.91 points.