Sensex rebounds, up 294 points, Nifty ends above 10,500 on positive global cues

key Indian equity indices closed higher today, with the barometer Sensex rising nearly 300 points.

The stock markets rose due to broadly positive Asian indices, coupled with healthy buying in capital goods, auto, health care and metal stocks.

The BSE Sensex closed 294.71 points or 0.87% higher at 34,300.47 while Nifty ended  at 10,539.75, up 0.81%. 

All the Nifty indices barring PSU banks and IT were in the green. 

Tata Steel, Aurobindo Pharma, UPL, YES Bank, and Indusind Bank were the Nifty drivers.

The BSE market breadth was bullish as 2021 stocks advanced as against 778 declines.

The Sensex hit the intra-day high of 34,351.34 and low of 34,115.12.

"BSE Sensex and Nifty opened on a positive note after Asian Indices opened in green. Nifty spot trading above the 10,500 mark is important for markets as resistance level is around 10,575 to 10,600 mark for the day," Dhruv Desai, Director and Chief Operating Officer of Tradebulls, was quoted as telling IANS.

Last week on Friday, the key equities plunged into the negative territory amid a global sell-off.

The Sensex closed at 34,005.76 points, down 407.40 points or 1.18% from its previous session's close, while the Nifty50 fell by 121.90 points or 1.15% to close at 10,454.95 points.