MUMBAI: Indian equities were witnessing sustained buying activity across the board as sentiments turned bullish with better-than-expected second quarter GDP figures. Negative opening of the European markets were ignored by the traders.

India’s Gross Domestic Product grew surprisingly at 7.9 per cent for second quarter 2009-10 against expectations of 6.3 per cent. The GDP grew at 6.1 per cent previous quarter.

National Stock Exchange’s Nifty was at 5041.20, up 99.45 points or 2.01 per cent. The index hit a high of 5066.35 and low of 4942.25.

Bombay Stock Exchange’s Sensex was at 16942.01, up 310 points or 1.86 per cent. The 30-share index hit a high of 17026.91 and low of 16655.75.

BSE Midcap Index was up 1.66 per cent and BSE Smallcap Index moved 1.92 per cent higher.

Amongst the sectoral indices, BSE Metal Index gained 3.44 per cent, BSE IT Index moved 1.91 per cent higher and BSE Oil&gas Index advanced 1.86 per cent.

Suzlon Energy (5.60%), Bharti Airtel (5.57%), Tata Motors (4.82%), Tata Steel (4.74%) and Hindalco Industries (4.59%) were amongst the top Nifty gainers.

Power Grid (-1.81%), Hero Honda (-0.57%), SBI (-0.42%) and PNB (-0.07%) were amongst the index losers.

Market breadth was positive on the NSE with 46 advances and 4 declines.

Meanwhile European markets were in the red as banks and commodities declined. CAC 40 slipped 0.44 per cent, DAX fell 0.42 per cent and FTSE 100 was up 0.47 per cent.