New Delhi, Jun 6 (IANS): A benchmark index for Indian equities markets was trading 300.38 points up in the afternoon session Wednesday owing to the stabilising rupee and good buying support in automobile, fast moving consumer goods (FMCG) and metal stocks.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,100.36 points, was ruling at 16,321.02 points in the afternoon session, up 1.87 percent or 300.38 points from its previous close at 16,020.64 points.

The Sensex touched a high of 16,322.17 points and low of 16,100.36 points in the intra-day trade.

The rupee recovered by 16 paise to 55.48 against the US dollar.

The automobile index was trading 264.90 points up, the FMCG index was trading 124.16 points up and the metal index was trading 237.32 points up.

Hero MotoCorp rallied 4.68 percent at Rs.1,953.05; Tata Motors was up 4.65 percent at Rs.231.85; ITC, was up by 3.90 percent at Rs.234.65.

Other major Sensex gainers were Sterlite Inds, up 3.50 percent at Rs.93.10; Jindal Steel, up 3.40 percent at Rs.427; Maruti Suzuki, up 2.86 percent at Rs.1,109.50; Hindalco Inds, up 2.65 percent at Rs.120.25; Hindustan Unilever, up 2.65 percent at Rs.418.90; Tata Steel, up 2.61 percent at Rs.408.90.