Among the broader indices, the BSE Midcap Index went up 2.4 per cent or 121 points, to 5,170.90 and the Smallcap Index gained 107.73 points or 1.89 per cent at 5,800.75.
With the upsurge in capital goods, banking, oil & gas, technology and realty stocks, the Benchmarks put up a brilliant show.
However, selling was seen in Sun Pharma, Ranbaxy Labs, Hero Honda, M&M and Tata Steel.
The market breadth was positive. About 1755 shares advanced while 1004 shares declined on the BSE and nearly 394 shares remained unchanged.
Mkts trading with strong gains; IT, power, FMGC up
At 1:39 pm, the Sensex was up 262.67 points or 1.83 per cent at 14608.29, and the Nifty was up 81.55 points or 1.92 per cent at 4323.40. The markets were trading with strong gains. Capital goods, banks, realty, oil & gas, metals, power, IT and FMCG stocks witnessed buying interest.
Even though Pharma stocks were trading weak, Reliance, Infosys, L&T, ICICI Bank and HDFC contributed positively to Sensex.
Gainers on Sensex were Sterlite Industries at Rs 609.15 up 5.61 per cent, ICICI Bank at Rs 734.20 up 5.08 per cent, L&T at Rs 1,598 up 4.61 per cent, Hindalco at Rs 87.45 up 3.25 per cent and BHEL at Rs 2,196.95 up 2.99 per cent.
Among the midcaps, the gainers were Advanta, Info Edge, Kirloskar Bros, Lanco Infratech and Bombay Rayon which surged 6 to 11 per cent. Among the small caps, NESCO, CMC, Rallis India, Zydus Wellness and Kewal Kiran gained 10 to 20 per cent.
However, Sun Pharma at Rs 1,137.10 down 12.43 per cent, Ranbaxy Labs at Rs 257.75 down 3.41 per cent, Tata Steel at Rs 386.25 down 2.94 per cent, M&M at Rs 694.25 down 1.2 per cent and ONGC at Rs 1,021.10 down 0.4 per cent were the top losers.
Mkts +ve; buying in banking, metal, technology
At 12:02 pm, the Nifty was up 31 points, to 4,272 and the Sensex rose 83 points, to 14,429. the broader indices, Midcap and Small cap Indices gained 1 per cent each. The markets were being supported by buying in capital goods, banking, metal (barring Tata Steel), select realty, technology and telecom stocks.
However, the markets are volatile and the sell off in pharma stocks and in stocks like Tata Steel, ONGC, HDFC, Tata Motors, M&M, Reliance Infrastructure, ABB, Idea and BPCL was putting pressure on the markets.
The Bombay Stock Exchange Capital goods, Bank and Realty indices were up by 1 to 2 per cent.
Among the largecaps, surging 1 to 4 per cent, ICICI Bank, L&T, Sterlite Industries, BHEL, Reliance Communication, Tata Communication and Cairn India proved to be the top gainers.
Mkts bounce back; DLF, Tata Motors, HCL gain
After a flat close on the closing session of Jun series, the markets bounced back due to buying in realty, capital goods, technology, oil & gas and banking stocks. At 9:56 am, the Nifty was up 51 points, to 4,292 and the Sensex gained 151 points at 14,499. The CNX Midcap 100 Index went up 61 points, to 5,454 and the Nifty Junior was up 93 points, to 7,880.
Indian markets also gained support from the US markers' positive closing. The gainers were Suzlon Energy, DLF, Hindalco, Tata Motors, BHEL, L&T, Wipro, Cairn, HCL Tech, Reliance Communication, Ambuja Cements and ICICI Bank.
Sun Pharma plunged 16 per cent. Caraco stock tumbled 43 per cent as US FDA (Food and Drug Administration) seized 33 drugs. Caraco US, a subsidiary of Sun Pharma sales to be impacted by 6 to 7 per cent. Tata Steel fell 1.5 per cent post disappointing numbers.
HCC, Voltas, Jairprakash Associates, Bartronics India, Arvind, Alok Industries, IDFC and IFCI gained 2 to 8 per cent.