Select scrips such as Banking,Metal and realty stocks rallied were in demand. IT stocks declined. 27 out of 30 stocks from the Sensex pack gained. The market breadth was positive. The Asian markets, which opened before Indian markets, were mostly in green, a leading stock-broker said. Later, the 30-share BSE Sensex crossed again 17,000 barrier and was up 452.49 points or 2.72 per cent at 17,060.50. Sensex gained 479.36 points at the day's high of 17,141.06, hit in early trade.
The broader CNX S&P Nifty was up 123.05 points or 2.54 per cent at 4961.30.
The BSE Mid-Cap index was up 1.71 per cent at 7,179.15, while the BSE Small-Cap was up 0.39 per cent at 9,209.04.
India's largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 3.44 per cent at Rs 2405.
India's largest private sector bank by assets ICICI Bank hiked 3.79 per cent to Rs 1104.10.
India's largest engineering construction firm by revenue Larsen&Toubro gained 2.38 per cent to Rs 3347.
Anil Dhirubhai Ambani Group firm Reliance Power hardened 2.81 per cent to Rs 364.50 on volume of 15.10 lakh shares on BSE.
Among the Sensex gainers, HDFC Bank moved up 4.94 per cent to Rs 1468, Reliance Energy jumped 3.86 per cent to Rs 1595, Tata Steel gained 3.39 per cent to Rs 734.50, DLF rose 2.79 per cent to Rs 815 and ITC climbed 2.95 per cent to Rs 190.25.
But the few scrips in heavy weight Sensex losers, Satyam Computer fell 0.93 per cent to Rs 417 followed by Infosys Technologies by 0.35 per cent to Rs 1540 and Wipro by 0.43 to Rs 420.
Majority of Asian markets were trading higher today, as Key indices in Hong Kong, Japan, Taiwan, and Singapore were up by 0.48 per cent to 1.85 per cent. However, indices in China and South Korea were down by 0.42 per cent to 1.39 per cent.
US markets edged higher on Tuesday, 12 February 2008, as blue chip shares rallied after billionaire investor Warren Buffett offered to insure about USD 800 million in tax-exempt bonds and major banks announced a new plan that they say will help homeowners avoid foreclosures. The Dow Jones industrial average advanced 133.4 points, or 1.1 per cent, to 12,373.41, paring an advance of as much as 229 points. The S&P 500 rose 9.73 points, or 0.7 per cent, to 1,348.86. The Nasdaq Composite index finished unchanged at 2,320.04, brokers added.