Market gives thumbs up to 2 years of Modi govt: Sensex tops 26,500-mark; Nifty above 8,100-leve

The benchmark Sensex rallied by nearly 200 points to recapture the 26,500-mark, bringing up gains for the fourth straight day amid expectations of further economic reforms in the third year of the Modi government.

Improvement in March quarter numbers on the last leg of the earnings season showed that the economy is gaining traction, which buoyed sentiment further.

The 30-share index was trading higher by 189.18 points, or 0.72 percent, at 26,555.86 after moving in range of 26,566.20-26,405.28. The gauge had gained 485 points in the previous session.

The 50-share NSE Nifty rose 58.05 points or 0.72 percent to 8,127.70.

In Asia, Tokyo stocks rose 0.3 percent after Japanese inflation data showed prices falling in April and media reports about a consumption tax hike delay bolstered hopes of extra Bank of Japan stimulus measures.

Elsewhere Sydney was up 0.5 percent while Seoul added 0.3 percent and Taiwan gained 0.4 percent. But Hong Kong was down 0.3 percent while Shanghai slipped 0.2 percent.

Sensex