The 50-share NSE Nifty surged 1.62 per cent or 71 points, to end at 4458.90 and the 30-share BSE Sensex closed at 15,035.26, up 1.69 per cent or 250.34 points.
The broader indices outperform. The BSE Midcap and Smallcap indices surged 2 per cent each.
Global cues too helped the markets. The Chinese index, Shanghai which fell 6 per cent, leading to the Indian markets
to a fall in the previous session gained 1.4 per cent.
Sensex gains 196 pts; HDFC, L&T, Bharti Airtel up
At 1: 42 PM, the BSE Sensex was up 196.04 points or 1.33 per cent at 14980.96, and the Nifty was up 69.25 points or 1.58 per cent at 4457.15.
Even though Sensex slipped from the day's high, it is still trading with marginal gains on the back of positive contribution from stocks like ICICI Bank, L&T, HDFC, ITC, Bharti Airtel and ONGC.
Hindalco, L&T, Jaiprakash Asso, HDFC and Bharti Airtel were top gainers on the Sensex. And TCS, Infosys, Tata Power, Reliance and Sun Pharma were top losers.
Among the midcaps, Nava Bharat Ven, Shree Renuka, OnMobile Global, Hind Oil Explor and Godrej Ind gained 5 to 7 per cent.
In the smallcaps, Numeric Power, IOL Chemicals, Alkali Metals, Sasken Comm and VIP Industries surged 9 to 20 per cent.
Mkts gain support from telecom, metal, banking
At 10:50 am, the BSE Sensex was up by 135 points, to 14,918 and the NSE Nifty went up 40 points, to 4,428. The broader indices were up over 1 per cent each.
Markets continue to trade amid volatility. Shares of telecom, metal, banking, realty and power companies along with ONGC were supporting the markets. However, selling in stocks like Reliance Industries, HDFC, TCS, Grasim, Tata Motors, Cipla and ACC were capping the gains.
Among the midcaps, Firstsource, Prism Cement, Bhart Forge, Varun Industries, Indiabulls Real, Polaris, Aptech, Mhpasis, Phoenix Mills, Peninsula Land, HCL Info and Deccan Chronicle were the gainers, while REI Six Ten lost 10 per cent. BF Utilities, GNFC, GSK Consumer and Simplex Infra slipped 2 to 5 per cent.
In the samllcap arena, Cambridge Solution, VIP Industries, Dhanuka Agritec and Kiri Dyes Chemical gained while Century Plyboard, Panyam Cements, Kohinoor Foods, Shree Ram Urban and Lok Housing dipped.
11: 50 AM
Mkts volatile; Siemens, Infy, Tata power lose
After falling by 4 per cent on Monday, Aug 18 the Sensex is seen consolidating. The markets opened marginally lower but soon turned positive. The markets are trading amid volatility.
At 9: 57 am, the NSE Nifty was up by just 3 points, to 4,390 and the BSE Sensex gained 11 points at 14,795. The CNX Midcap rose 27 points, to 5,739 and the BSE Smallcap Index went up 39 points, to 6,250.
The gainers among the frontliners were Ranbaxy Labs, DLF, Hindalco, Hero Honda, Cairn India, M&M, Wipro, Maruti, and Tata Motors while ITC, Grasim, Siemens, Sun Pharma, Reliance Industries, Infosys, Tata Power and SAIL were slipped.
Among the Midcaps, HOEC, NIIT Technologies, Prism Cement, Balrampur Chini, Aptech, Brandhouse Retail, Apollo Tyres, HDIL, Indiabulls Real and Raj Oil Mills gained 1 to 4 per cent.
Sesa Goa and Chambal Fertilisers were the losers.
Shanghai that plummetted up to 6 per cent on Monday, Aug 18 leading to the Indian markets to the red end is trading down by 1 per cent.
10: 22 PM