Mumbai, June 15 - All round buying on expectation of rates cuts from the Reserve Bank of India, higher global cues and capital inflows from foreign into equity markets pulled up the BSE benchmark sensex by 272 points to a six-week high at 16,949.83.
Auto and banks stocks edged higher as the Reserve Bank of India (RBI) is seen cutting its key policy rate viz. the repo rate by 25 basis points at mid-quarter monetary policy review on Monday, June 18.
Shares of Auto, Banking, Realty, Capital Goods, FMCG and Metal sectors shot up on strong buying from operators and investors. Power, Teck, IT and Healthcare care sectors also firmed up moderately.
The BSE benchmark sensex resumed higher at 16,701.28 however in a range of 16,967.76 and 16,701.28 before ending at 6-week high at 16,949.83, showing a rise of 271.95 points or 1.63 per cent from its last close.
The NSE 50-share Nifty also shot up by 84.30 points or 1.67 per cent to end at 5,139.05.
Foreign institutional investors (FIIs) bought shares worth a net Rs 105.08 crore yesterday as per provisional figures from the stock exchange.
Asian stocks ended mostly higher in choppy trade today after reports central banks of major economies are ready to provide liquidity if needed after crucial elections in Greek on Sunday, 17 June 2012. The vote is expected to determine the Greece's future in the euro zone. PTI