Sensex zooms over 314 pts

Updated at 2.10pm

MUMBAI: The Bombay Stock Exchange benchmark Sensex continued its northward rally in afternoon trade on Wednesday on the back of broad-based buying support, while adding 314 points over the previous close.

The BSE 30-share index was holding near its intra-day high of 12,188.46 while the Nifty on the National Stock Exchange gained 94.25 points at 3617.55 at 2 pm.

Marketmen said that domestic mutual funds and financial institutions were major buyers at blue chip counters after a sharp plunge witnessed in the Sensex earlier this week.

The market sentiment also gained support from the firm trends seen in the Asian markets. Buying interest was conspicuous on the metal counters today on the back of the sharp overnight recovery in the global metal prices on the London Metal Exchange.

Private sector steel major Tata Steel, index heavyweight Reliance Industries, Bajaj Auto, Infosys, Satyam Computer and ONGC were among the major gainers on the Sensex.

Grasim Industries and HDFC Bank were among the few blue chip counters where investors were seen booking profits.