Metal and technology stocks became the frontline gainers. The respective indices reported 3.7-4pc gain.
The divestment programme in the public sector enterprises led to over 4pc rise in Rural Electrification Corporation.
The market closed at Rs 1 Lakh with the F&O turnover of Rs 70,000 crore.
In BSE, 1,843 shares advanced but 1,148 shares plummeted.Over 775 shares remain unexchanged.
The top percentage gainers were Gloster Jute, Jubilant Org, Siyaram Silk, McDowell Holding and MSP Steel surged 20pc each. Shrenuj and Company gained 16.24pc.
While in the midcap space, Educomp Solutions, Info Edge, Shipping Corp and REI Six Ten shot up 7.5-10pc,Jai Corp, Blue Dart, BF Utilities, Bajaj Finserv and AstraZeneca slipped 2-5.5pc.
Mercator Lines, Indraprastha and UB Holdings rose 11.5-13 pc in small cap space while Savita Oil Tech, Sarasind, Zodiac Clothing, Advanta and Jindal Worldwid dipped 3.5-4pc.
Sensex up by 244 pts; SBI, Tata Power dip
At 12:36 PM Sensex was up 244.87 points or 1.49 pc at 16685.43 and Nifty was up 74.40 points or 1.52pc and was trading above 4950 level.
Heavy buying continued in metal, IT, auto, pharma and capital goods stocks. While BSE sector indices traded in green, BSE Midcap up 1.44pc and Smallcap indices shot up 1.04pc. SBI and Tata Power were trading in red.
Brazilian Company VDI, with the enterprise value of $240 million was won by Shree Renuka Sugars.
The stock of Essar Shipping which has reportedly put 1VLCC on a year long charter on was up by 5 pc.
MTNL was up 6 pc inspite of rumours that the company may call it a day.
Among the top percentgae gainers in midcaps include Jubilant Org up 16.64pc, REI Six Ten shot 8.21, Shipping Corp up 8.21pc , MTNL up 6.38pc; United Brewerie up 6.29pc,United Brewerie.
The mid cap losers included Jai Corp which plummeted 7.16pc; Bajaj Finserv down 3.64pc LIC Housing Fin down 2.54pc; Blue Dart down 2.48pc; GVK Power down 1.68pc.
While MSP Steel, UB Holdings, Agro Tech Foods, Indraprastha Gas, Shrenuj and Co each up 9-17pc became gainers in smallcap, Zodiac Clothing, Kanani Industry, Advanta, Geekay Fin & Dhanuka Agritec down 3-5pc became smallcap top losers.
IT, power, metal leads Sensex to gain 150 points
Buying interest in technology,power, metal, private banking, capital goods, pharma and FMCG companies' shares contributed to sensex's rise by 150 points.
At 11:32 am, Nifty went up 45 points at 4,927, Sensex too shot up 115 points to 16,595.
While ONGC, Reliance Industries and Bharti Airtel were the other gainers, considerable selling in SBI, HDFC, Maruti Suzuki, BPCL, Reliance Communications, Idea Cellular, Unitech, DLF and Suzlon Energy capped the gains.
Among the largecaps the frontline gainers were Tata Motors, Sterlite Industries, Wipro, Jaiprakash Associates, Sun Pharma and Infosys with 2.6-4pc gain.
McDowell Holdings, Jubilant, MSP Steel, FIEM Industries and UB Holdings became the top percentage gainers.
The biggest losers in terms of percentage among the largecaps were Surana Corp, Shreyans Industries, Deccan Cements, Jai Corp, Sree Rayalaseem, Rungta Irrig. Networth Stock, EMA India, Sika Interplant and Acrow India with a loss of 5.5-13pc.
Reliance industries which showed a positive fare in Sensex on Nov 10, had a bad day. The company was concentrating on more than one overseas acquisiton with USD 25 billion for buys.
With the foreign market showing interest in Indian airlines, SpiceJet, Jet Airways and Kingfisher Airlines went up by 3-5pc.
Mkts open weak; realty and telecom trading in red
The Indian benchmarks opened the day on a weak note and continued their consolidation. Realty and telecom stocks continued to trade in the red.
At 9:56 am, NSE Nifty lost 6 points at 4,875 and BSE Sensex shed just 22 points at 16,417. However, the CNX Midcap was up just 6 points at 7,003.
On the positive note, select metal and cement stocks were the gainers. The early gainers among the frontliners were Sterlite Industries, M&M, Tata Motors, Reliance Industries, Reliance Infrastructure, Cipla, ACC and Ambuja Cements.
The losers were Idea Cellular, Bharti Airtel, Reliance Communications, Suzlon Energy, Maruti, DLF, Unitech, SBI and Cairn.
Among the midcaps, Eastern Silk shot up 9 per cent, Golden Tobacco was up 5 per cent, and Taj GVK, HMT and ITI were up 1 per cent each.
NMDC, which was locked in the upper circuit in the past two trading sessions, gained 7.5 per cent more. Educomp surged 3.5 per cent. Sesa Goa and Mercator Lines were up 2 to 3 per cent.
The losers among the midcaps were Pyramid Saimira down 10 per cent, and Jai Corp down 5 per cent.
10: 24 AM