Sensex rallies 287 pts in late morning deals

The benchmark BSE Sensex rallied 286.76 points to reclaim the psychological 28,000-level in late morning deals on sustained across-the-spectrum buying led by metal, banks, capital goods, financials, industrials, energy, auto, oil&gas, telecom and consumer durables sectors.
Markets sentiment got a boost from good FII buying amid firm Asian cues after Bank of England yesterday cut interest rate and announced more stimulus to shore up its economy.
The 30-share index resumed higher at 27,810.55 and hovered between 28,034.93 and 27,795.74. It was quoting at 28,004.13 at 1100 hours, showing a gain of 286.76 points or 1.03 per cent from its last close.

The NSE 50-share Nifty was also trading up by 88.75 points or 1.04 per cent at 8,639.85.
Major gainers were, SBIN 3.37 pct, Heromotoco 2.87 pct, ICICI Bank 2.80 pct, Bajaj Auto 2.61 pct, Axis Bank 2.58 pct and Adani Ports by 2.06 per cent.
Meanwhile, Foreign portfolio investors (FPIs) bought shares worth a net Rs 559.49 crore yesterday, as per provisional data released by the stock exchanges.
Overseas, Asian stocks rose driven by the Bank of England's aggressive stimulus measures, but with traders keeping a wary eye on US jobs data due later in the global trading day.
US stocks ended little changed yesterday as investors kept to the sidelines ahead of US payrolls report for July.