BSE Sensex, NSE Nifty were trading higher on Thursday tracking gains in global markets.
Experts believe as long as markets don't breach key support levels, there can be further rally. "Markets were expected to open in the green tracking gains in global and Asian stocks after US industrial production increased more than forecast in March and Federal Reserve Chair Janet Yellen said the central bank remains committed to supporting the economic recovery," Standard Chartered Securities said in its morning note. "We continue to maintain positive view on the market as long as the Nifty holds key support at 6650," it added.
Among sectoral indices, the BSE Realty (1.71%), BSE Auto (1.72%) and BSE IT (1.09%) were the major gainers. Among individual stocks, Tata Motors (2.66%), ICICI Bank (2.44%) and Wipro (2.19%) were the major gainers on the 30-share Sensex.
Most Asian indices were trading in the green. The Nikkei (0.13%), Hang Seng (0.31%), Kospi (0.09%), Straits Times (0.06%), Taiwan Taiex (0.17%) and Jakarta Composite (0.24%) were the major gainers.
On Wednesday, American indices -- Dow Jones (1%) and Nasdaq Composite (1.29%) -- ended higher. Among European markets, CAC (1.57%), DAX (1.39%) and FTSE (0.65%) ended higher.