Mumbai, Dec 1 (IANS) Indian equities markets shut shop on a strong note Tuesday, with a key index gaining 1.61 percent, joining other global benchmark indices in the green.
The rally was led by realty stocks — which were beaten last week due to fears over Dubai World debt default — and auto stocks, which rose after vehicle manufacturers posted handsome sales figures for November.

The sensitive index (Sensex) of the 30-scrip Bombay Stock Exchange (BSE), which opened at 16,947.46 points against Monday’s close at 16,926.22 points, ended at 17,198.27 points, up 272.05 points or 1.61 percent.

Around the same time, at the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty shut shop at 5,122 points against its previous close at 5,032.7 points, reflecting a gain of 1.77 percent.

Broader market indices were also in the green, with the BSE midcap index up 1.77 percent and the BSE small cap index ruling 2.15 percent higher.

Among the major gainers on the Sensex were Tata Motors, up 6.03 percent at Rs.700.75; Sun Pharma, up 5.62 percent at Rs.1,538.80; DLF, up 5.46 percent at Rs.370.80; and M&M, up 4.84 percent at Rs.1,078.

There were only three losers on the 30-scrip Sensex: Hindustan Unilever, down 1.95 percent at Rs.279.70; BHEL, down 0.64 percent at Rs.2,230.25; and ONGC, down 0.21 percent at Rs.1,196.55.

All 13 sectoral indices on the BSE ended in the green.

The market breadth was positive, with 2,031 stocks advancing, 725 scrips declining and 74 remaining unchanged.

Major global bourses saw significant gains a day after Dubai World tried to allay fears of a credit default by saying only some subsidiaries were in financial trouble and that it would expedite the process to restructure the $26 billion owed by these entities.

Asian markets rose in anticipation of an early resolution to the Dubai World crisis.

A key Japanese index, the Nikkei, closed 2.43 percent or 226.65 points up at 9,572.2 points.

The Hang Seng, a benchmark index of the Hong Kong Stock Exchange, ended at 22,113.15 points, 1.34 percent or 291.65 points higher.

The Kospi, the benchmark index of the Korean Stock Exchange, closed at 1,569.72 points, up 0.91 percent.

In China, the Shanghai composite index also closed higher at 3,235.36 points, 1.25 percent up.

European markets followed suit with key indices trading with significant gains. A key index of the London Stock Exchange, the FTSE 100 index was ruling 1.58 percent higher at 5,272.62 points.

The French index, CAC 40, was at 3,748.55 points, up 1.86 percent, while its German peer, the DAX was trading 1.74 percent higher at 5,725.88 points.