Rising for the sixth straight day, the benchmark BSE Sensex on Wednesday recaptured the 27,000-level by rising 102.97 points on the back of rally in energy and mining stocks, tracking a recovery in global crude oil prices.
Moreover, a big surge in rupee against the dollar and sustained foreign fund inflows also helped the index to end at 27,035.85 — its fresh one and a half months high.
Mining and energy stocks were the among the major gainers after US oil approached USD 50 per barrel, a level last seen in July.
Hindalco was the top Sensex gainer with a surge of 9.64 per cent. Vedanta, Tata Steel and ONGC followed with rise of up to 5.83 per cent.
In volatile movements, the 30-share Sensex resumed higher at 26,966.86 but slipped into negative zone on profit-booking in blue-chip stocks at prevailing levels and hit a low of 26,877.51.
However, it staged a comeback on revival of buying and went past 27,000 level to hit a high of 27,082.28 before ending at 102.97 points or 0.38 per cent higher at 27,035.85 — its highest closing since August 21.
In last five days, the index had gained 1,316.04 points.
The broader NSE Nifty gained 24.50 points or 0.30 per cent to settle at 8,177.40 after shuttling between 8,188.90 and 8,132.90.
Auto segment stocks also attracted good buying interest on expectations that the festive season would boost sales.
Bajaj Auto gained 3.14 per cent, Tata Motors rose 2.31 per cent and Maruti Suzuki climbed 0.32 per cent.
Out of 30 Sensex stocks, 21 ended with gains, whereas Axis Bank, Infosys, Wipro and Bharti Airtel ended in the red.
Among sectoral indices, metal rose the most by surging 2.76 per cent, followed by realty 1.90 per cent, auto 1.37 per cent, power 1.30 per cent, oil&gas 1.28 per cent, PSU 1.13 per cent and FMCG 0.25 per cent.
Small-cap index rose 0.40 per cent and mid-cap gained 0.09 per cent.
Traders said firming trend in global markets with Asian stocks hitting a seven-week high and a positive opening at European markets amid prospects of a delay in the US Fed rate hike also buoyed trading sentiments.