Nifty scales 5,600 pts level after 31 months

The 50-share NSE barometer gained 24.25 points, or 0.43 per cent, to trade at 31-month high of 5,601.20 points in early trade. Earlier, the Nifty had crossed the level in January, 2008.

Meanwhile, the Bombay Stock Exchange index Sensex added 86.87 points to trade at 18,646.92 points.

Brokers said steady capital inflows to the bourses, driven by strong growth in the economy and encouraging corporate results, lifted indices to trade at 31-month high levels.

Oil and gas, metal, auto, capital goods and realty sector stocks led the rally on funds buying, helping the Nifty to regain 5,600 points level, they added.

However, the Nifty soon pared some of the gains to trade at 5,590.80 points, a rise of 13.85 points, or 0.25 per cent, at 1000 hrs.