The indices have shot up over 7 per cent in four days.
Heavyweight Reliance Industries and ITC gained 3.5 to 4.5 per cent.
The gainers on the Nifty included Metal, realty, capital goods, auto, power, oil & gas and technology stocks and only five stocks like Bharti Airtel, Reliance Communications, Sterlite, HUL and Ambuja Cements were the losers.
The Asian markets also ended the day higher.
Nifty climbs towards 4900; FMGC, metal support
Heavy buying in banking, metal, oil & gas and FMCG stocks continued to support the markets while Nifty climbed towards the 4900 mark.
At 1: 34 pm, Sensex was up 241.13 points or 1.49 per cent at 16399.41, and the Nifty was up 81.40 points or 1.70 per cent at 4877.55.
However, telecom stocks were under pressure.
Reliance at Rs 2,021.35 up 3.30 per cent, ITC at Rs 256.50 up 3.20 per cent, Tata Power at Rs 1,310.20 up 3.04 per cent, ICICI Bank at Rs 871.55 up 2.69 per cent and SBI at Rs 2,261.65 up 2.61 per cent, were the top gainers.
Cigarette major ITC was trading at Rs 256.50 up 3.2 per cent.
The losers were Bharti Airtel at Rs 308.75 down 3.49 per cent, Reliance Comm at Rs 174.05 down 2.22 per cent, HUL at Rs 271.10 down 0.7 per cent and BHEL at Rs 2,220 down 0.07 per cent.
Reliance, SBI, ICICI Bank, Unitech and HDIL were most active shares on NSE.
Among the Midcaps, Jai Corp, Central Bank, Sobha Developer, Thomas Cook and Hotel Leela up 6 to 20 per cent were the top gainers.
And in the Smallcap arena, surging 9 to 15 per cent, Orbit Corporation, Gulf Oil Corp, KPIT Cummins, Kalyani Steels and IVR Prime proved to be gainers.
1: 58 PM
Cautious trading puts mkts on consolidation mode
At 11:43 am, the benchmark indices were in consolidation mode as the trading moved on a cautious note after three days of rally. Sensex was down 9 points at 16,148 and the Nifty fell 5 points at 4,791. The broader indices were outperforming the benchmark indices and were up 0.4 to 1 per cent.
Telecom, technology, capital goods, realty, cement and select power stocks were putting pressure on the markets. ONGC and HUL were the other losers.
However, the markets were gaining support from heavyweights such as Reliance Industries and ITC and buying continued in metal, banking & financial, select auto and pharma stocks.
In the telecom pack, Bharti Airtel and Reliance Communications slipped 3 to 4 per cent. Tata Communications, Tata Teleservices and MTNL lost 1.7 to 2.7 per cent and Idea Cellular declined 1.29 per cent.
In realty, Unitech, Parsvnath, DLF and Indiabulls Real slipped 1.7 to 2.7 per cent while in the power space, Suzlon Energy was down 3 per cent, GVK Power, Reliance Infrastructure, Reliance Power, Power Grid Corp and Adani Power dipped 1 to 1.2 per cent.
Among the Capital goods stocks, BHEL, Punj Lloyd and L&T fell 0.7 to 1.5 per cent.
In the IT sector, HCL Tech, Infosys, TCS and Wipro slipped 0.4 to 1 per cent.
On the positive note, JSW Steel, Sesa Goa, Hindustan Zinc, Jindal Steel, Tata Steel, SAIL and NALCO were up by 0.5 to 2 per cent in the metal space. Banking stocks like Axis Bank, PNB, Kotak Mahindra, Bank of Baroda and SBI gained 1 to 2.4 per cent. HDFC Bank gained 0.89 per cent and ICICI Bank was up by just 0.14 per cent.
12: 30 PM
Mkts open green on buying in IT, telecom, pharma
Riding on buying in metal (rallied on the back of gain in base metals), banking, select oil & gas, telecom, pharma and technology stocks, the Indian markets have opened the week on a positive note.
At 9:56 am, BSE Sensex was up 87 points at 16,245 and NSE Nifty moved up 25 points at 4,820. The CNX Midcap went up 0.8 per cent to 6,893.
The frontliners and the heavyweights leading the markets were Ranbaxy Labs, Suzlon Energy, DLF, Bharti Airtel, SAIL, Tata Steel, Jaiprakash Associates, PNB, SBI, BPCL, HCL Technologies, Idea Cellular, Hindalco, Sterlite, Reliance Industries and Cipla.
However the early losers were Reliance Communications, ONGC and Unitech.
Among the midcaps, Maytas Infra gained nearly 9 per cent, Edserv Softsystems shot up 7 per cent, Deccan Chornicle and TV Today gained 3 per cent, NMDC surged 7 per cent, ITI went up 2.5 per cent, Apollo Tyres was up 3 per cent and HCC went up 3.5 per cent. However, Educomp dipped 1 per cent.
10: 21 AM