Mumbai: The BSE Sensex shot up by more than 590 points in opening tradeon Thursday, while the NSE Nifty regained the 5,000 points level on the back of a firming trend in global markets after coordinated action by central banks to pump liquidity into the financial system.

The 30-share BSE Sensex index, which had gained 115.12 points in the previous session, rallied by another 590.91 points, or 3.66 per cent, to 16,714.37 within minutes of the opening bell on Thursday.

In a similar fashion, the wide-based National Stock Exchange Nifty index rose by 172.80 points, or 3.58 per cent, to quote above the psychological 5,000 points-mark at 5,004.85.

Brokers attributed the strong rally to a firming trend in Asia in the wake of a higher close in the US market in Wednesday’s trade after the world's six major central banks took action to boost liquidity into the global financial system.

Metal, pharma, banking, auto, oil and gas and capital goods stocks led the rally.

Ranbaxy Laboratories, in particular, made the most of the upbeat sentiment, shooting up by 7.52 per cent to Rs 467.50 after the US Food and Drug Administration gave approval to the drug-maker to make the first generic version of blockbuster cholesterol-lowering drug lipitor.

Meanwhile, in Asia, Hong Kong's Hang Seng Index rose by 5.78 per cent, while Japan's Nikkei Index gained 2.41 per cent in morning trade. In the US, the Dow Jones Industrial Average closed 4.24 per cent higher in Wednesdays’ trade.