Mumbai, Jan 10 (IANS): A benchmark index for Indian equities Tuesday rallied 350 points and closed above the 16,000-mark for the first time in almost a month, as firm global cues and the rupee gaining strength against the US dollar helped buying sentiments.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 15,898.32 points, closed at 16,165.09 points, 350.37 points or 2.22 percent up from its previous close at 15,814.72 points.
It had touched a high of 16,180.97 points.
The 50-scrip S&P CNX Nifty of the National Stock Exchange also ended in the positive at 4,849.55 points - up 2.25 percent or 106.75 points from its previous close.
Broader markets were also in the green. The BSE 500 index ended 2.25 percent higher from its previous close.
The market breadth was positive with 2,137 stocks advancing, compared to 671 on the decline. Another 105 remained unchanged.
Prominent gainers on the 30-scrip Sensex included M&M, up 5.63 percent at Rs.689.85; Hindalco, up 4.28 percent at Rs.123; L&T, up 4.24 percent at Rs.1,134.55; and Jindal Steel, up 4.12 percent at Rs.499.20.
There were only two losers on the 30 scrip Sensex: TCS, down 0.41 percent at Rs.1,16.80 and GAIL India, down 0.16 percent at Rs.380.90.
According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought stocks worth $2.35 million Tuesday.
Asian markets were mixed as investors hoped for some concrete steps from leading Euro zone economies France and Germany towards resolving the Euro debt crisis.
The Japanese Nikkei closed 0.38 percent up at 8,422.26 points.
Hong Kong's Hang Seng rose 0.73 percent to close at 19,004.28 points, while the Chinese Shanghai Composite index gained 2.69 percent and ended at 2,285.74 points.
The South Korean Kospi closed 1.46 percent up to end at 1,853.22 points.
European markets were trading higher with traders optimistic about the upcoming European earnings season.
Britain's FTSE 100 was ruling 1.02 percent up at 5,669.37 points, while the German DAX was trading 2.19 percent up at 6,148.85 points.
However, the French CAC 40 was ruling 2.07 percent higher at 3,192.33 points.