IT, banking stocks drive Sensex 100 points higher

The 30-share BSE Sensex advanced 100 points, aided by the further upmove in technology and banking stocks. European markets too extended gains before the European Central Bank's (ECB) policy meet today evening.

Market experts believe the ECB chairman Mario Draghi may announce major bond buying programme to ease ongoing Eurozone debt crisis. Germany's DAX was up 1.3% and France's CAC gained 1.1% while Britain's FTSE climbed 0.7%. The Dow Jones futures rose 0.6%.

The BSE benchmark moved up 102 points to 17,415.36 and the NSE benchmark went up 32 points to 5,257.75. The Indian rupee too appreciated by 8 paise to 55.83 against the US dollar.

The Bank Nifty gained more than 100 points as major lenders State Bank of India and ICICI Bank were up 1.8% and 2.5%, respectively.

Country's largest IT services exporters TCS and Infosys rallied 1.2% and 3.6%, respectively while Wipro shot up 4.2%.

Commercial vehicle maker Tata Motors extended gains to 2.4% ahead of ECB meet as expected new bond buying plan would revive economic growth, which resulted into increase in sales of luxury brand Jaguar and Land Rover.

Housing finance company HDFC and engineering conglomerate Larsen & Toubro were marginally higher.

Cigarette major ITC and state-owned power equipment manufacturer BHEL dropped 2.5% each. Telecom operator Bharti Airtel fell nearly 2%.

Advancing shares outnumbered declining by 838 to 550 on the National Stock Exchange.