National Stock Exchange"s Nifty closed at 2778.10, up 58.85 points or 2.16 per cent. The index touched an intra-day high of 2781.95 and low of 2701.95.
Bombay Stock Exchange"s Sensex ended at 8951.32, up 194.71 points or 2.22 per cent. The 30-share index hit high of 8955.73 and low of 8697.46 in trade so far.
BSE Midcap Index gained 2.26 per cent and BSE Smallcap Index moved 2.21 per cent higher.
Mahindra & Mahindra (11.05pc), Reliance Communications (6.91pc), Ranbaxy Laboratories (6.71pc), DLF (5.93pc) and HCL Technologies (5.41pc) were the biggest Nifty gainers.
Maruti Suzuki (-2.19pc), Sun Pharmaceuticals (-2.09pc), Grasim (-1.40pc), Unitech (-0.94pc) and Cipla (-0.62pc) were the major losers.
Sensex near day's high; capital goods gains
Indian key indices gained momentum and were comfortably in the positive terrain as buying emerged in frontline stocks. European markets are likely to open higher following gains in the US and Asian markets.
At 1:10 pm, Bombay Stock Exchange"s Sensex was at 8819.56, up 62.95 points or 0.72 per cent. The index touched an intra-day high of 8828.18 and low of 8697.46
National Stock Exchange"s Nifty was at 2735.35, up 16.10 points or 0.59 per cent. The broader index hit an intra-day high of 2739.95 and low of 2701.95.
Mahindra & Mahindra (8.50pc), Jaiprakash Associates (6.49pc), Tata Motors (3.50pc) , Ranbaxy Laboratories (3.21pc) and State Bank of India (3.20pc) were the top Sensex gainers.
Reliance Infrastructure (-3.14pc), Sun Pharmaceuticals (-2.11pc), Maruti Suzuki (-1.58pc), HDFC (-1.32pc) and Infosys Technologies (-0.91pc) were the top Sensex losers.
Sensex slips in red; IT, metals dip
Indian key indices took a breather Monday by turning flat with a negative bias after a strong pull-back rally in previous session.
Second rung stocks, meanwhile, outperformed the benchmarks as traders rushed in to take fresh positions. Some weakness was emerging in Asian markets as most indices gave away intra-day gains.
At 10:35 am, Bombay Stock Exchange"s Sensex was at 8725.86, down 30.75 points or 0.35 per cent. The index touched an intra-day high of 8828.18 and low of 8725.86.
National Stock Exchange"s Nifty was at 2713.20, down 6.05 points or 0.22 per cent. The broader index hit an intra-day high of 2737.05 and low of 2710.55.
Quiet start for equities; Tata Steel gains
The markets opened with marginal gains led by metal, telecom, realty, capital goods and financials. There was a bit of volatility, as selling pressure was seen in power stocks, ONGC, Infosys and Sterlite Industries.
At 9:56 am, the Sensex was trading at 8,813, up 56 points and the Nifty was trading at 2,733, up 15 points. CNX Midcap went up 1pc, to 3,086.
Among frontliners, BPCL, DLF, Tata Motors, SAIL, L&T, Hindalco, Tata Steel, HDFC, Tata Communication, HDFC Bank and Bharti Airtel were gainers.
However, ONGC, Infosys, Maruti, Cairn, Sterlite, NTPC, Power Grid, Reliance Power and Tata Power were under pressure.
In the midcap space, Educomp Solutions, NDTV, Aban Offshore, Sintex and Voltas have gained. However, TTML and Edserv Softsystems lost ground. Satyam fell 3 pc.
Recent listing, Edserv Softsystems is locked at 10pc lower circuit Monday, Mar 16 as well.