Indian stocks today, 27 January 2012, played a catch up with rally in Asian stocks on Thursday, 26 January 2012, triggered by Federal Reserve's pledge at the end of a two-day policy meeting on Wednesday, 25 January 2012, to keep US interest rates at ultra-low levels until late 2014. India's stock market was closed on Thursday, 26 January 2012, on account of Republic Day. Key benchmark indices surged to attain their highest closing level in more than 11 weeks. The barometer index, BSE Sensex, jumped 156.80 points or 0.92%, up close to 125 points from the day's low and off about 25 points from the day's high. Data showing stepping up of buying of Indian stocks by foreign funds underpinned sentiment. The market breadth was strong.

The Sensex advanced for the sixth day in a row today, 27 January 2012. From a recent low of 16,451.47 on 18 January 2012, the Sensex has jumped 782.51 points or 4.75% in six trading sessions. The Sensex has jumped 1,779.06 points or 11.51% so far in this month. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 2,577.16 points or 13%. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 2,098.12 points or 13.86%.

Coming back to today's trade, index heavyweight Reliance Industries (RIL) rose more than 3%. Another index heavyweight L&T jumped nearly 4%. Metal stocks gained as LMEX, a gauge of six metals traded on the London Metal Exchange gained 2.36% on Thursday, 26 January 2012. Canara Bank fell after posting weak Q3 December 2011 results. Bank of India rallied as the state-run bank's 3rd quarter net profit rose. IT stocks edged higher after the Federal Reserve indicated that it would keep rates in the US at ultra-low levels until late 2014 to support US economic recovery. Two wheeler makers dropped.

The market surged to 10-1/2-week high at the onset of the trading session. The market regained strength after trimming gains after a firm opening to hit fresh intraday low in morning trade. The Sensex traded off highs in mid-morning trade. The market regained strength after hitting fresh intraday low in mid-morning trade. The market was range bound in afternoon trade. The market strengthened in mid-afternoon trade.

Foreign institutional investors (FIIs) have made heavy purchases of Indian shares this month. FIIs bought shares worth Rs 1147.01 crore on Wednesday, 25 January 2012, as per provisional data from the stock exchanges. FII inflow totaled Rs 1948.29 crore in two trading sessions on 24 and 25 January 2012, as per provisional data from the stock exchanges. FIIs have bought shares wroth a net Rs 7777.94 crore this month so far (till 25 January 2012), as per provisional data from the stock exchanges.

The BSE Sensex jumped 156.80 points or 0.92% to settle at 17,233.98, its highest closing level since 9 November 2011. The index jumped 179.79 points at the day's high of 17,258.97 in early trade. The index rose 29.39 points at the day's low of 17,106.57 in mid-morning trade.

The S&P CNX Nifty jumped 46.40 points or 0.9% to settle at 5,204.70, its highest closing level since 9 November 2011. The index hit a high of 5,217 in intraday trade. The index hit a low of 5,162.40 in intraday trade.

The BSE Mid-Cap index rose 0.66% and underperformed the Sensex. The BSE Small-Cap index gained 1.3% and outperformed the Sensex.

BSE clocked turnover of Rs 2745 crore, lower than Rs 2794.96 crore on Wednesday, 25 January 2012.

The market breadth, indicating the overall health of the market, was strong. On BSE, 1,793 shares advanced and 1,102 shares declined. A total of 116 shares were unchanged.