Mumbai, Sep 8 (IANS): A benchmark index for Indian equities markets rose sharply in afternoon trade Thursday after ruling with a negative bias for most of the trading session. Positive cues from European bourses also enthused traders here.

About 90 minutes before the closing bell, the 30-scrip sensitive index (Sensex) of the BSE, which opened at 17,118.08 points, rose to 17,209.66 points, up 144.66 points or 0.84 percent from its previous close at 17,065 points.

It had slipped to an intra-day low of 16,987.37 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange too followed a similar trajectory and rose to 5169.25 points, up 1.39 percent.

Broader markets were trading with moderate gains. The BSE midcap index was up 0.32 percent, and the BSE small cap index was ruling 0.75 percent higher.

IT, capital goods and telecom stocks were among the major gainers, while FMCG scrips fell.

Other Asian markets closed on a mixed note. Japan's Nikkei closed 0.34 percent up at 8,793.12 points, while China's Shanghai Composite index closed 0.68 percent down at 2,498.94 points.

Hong Kong's Hang Seng index closed 0.67 percent lower at 19,912.82 points.

European stocks, which opened weak, rose into the green ahead of key economic announcements from the US and interest rate decisions by the Bank of England and European central bank.