Mumbai, Oct 7 (IANS): A benchmark index of Indian equities surged nearly three percent Friday on the back of strong buying support in metal and banking stocks amid positive cues from global bourses.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened sharply high at 16,222.49 points, closed at 16,232.54 points, up 440.13 points or 2.79 percent from its previous close at 15,792.41 points.

The Sensex touched a high of 16,347.48 points and low of 16,148.97 points in the intra-day.

The 50-scrip S&P CNX Nifty of the National Stock Exchange closed 2.83 percent higher at 4,885.70 points.

All the broader markets as well as the sectoral indices also closed in the positive terrain. The BSE midcap closed 1.37 percent higher at 5,959.65 points and the smallcap index ended 1.15 percent up at 6,721.00 points.

Metal index surged 5.36 percent at 10,907.84 points, leading the rally among the BSE sectoral indices. Banking index soared 3.82 percent at 10,342.28 points.

Most other Asian markets advanced for the second straight day on optimism of the European crisis easing.