The 30-share BSE Sensex gained 152.80 points or 0.92% while the 50-share NSE Nifty shot up 0.93% or 46.30 points
Oil Ministry's nod to hike in regulated gas price shot up ONGC to 3pc.
Heavyweight Reliance Industries gained almost 0.8pc. BPCL and HPCL too gained 1.2 to 1.6pc
Sensex up 140 pts; Reliance top contributor
At 1:03 pm, Sensex was up 140.33 points or 0.84pc at 16836.36, and the Nifty gained 31.45 points or 0.64pc at 4984.10.
while trading was weak in real estate stocks, buying was seen in IT, metals, auto, bank, capital goods, FMCG and power stocks.
Reliance, Infosys, ICICI Bank and L&T were the positive contributors to the Sensex while ONGC, M&M, JP Associates and DLF were the negative contributors.
Top gainers at the Sensex were Maruti Suzuki up 2.51pc, TCS at Rs 669 gain 2.26pc, Tata Steel shot up 1.71pc, Bharti Airtel was up 1.70pc and Infosys rose 1.63pc.
Top losers Jaiprakash Asso down 2.41pc, DLF fell 0.55pc, ACC loss 0.33pc and ONGC declined 0.16pc.
The decision of relaunching a twin spark technology helped TVS Motors to gain 4pc.
The tie-up between MTNL Mumbai and Sterlite Tech for prepaid broadband services enabled both the stocks to trade in green.
In the midcap space, stocks like Motherson Sumi, United Brewerie, Exide Industries, Ackruti City & Mcleod Russel were up 5 to 7pc. On the losing side, Spice Comm, Dish TV India, IndusInd Bank, Karnataka Bank & Monnet Ispat were down 2.8 to 3.7pc.
In the smallcap space, gainers were Kernex Micro, Mukand, Advanta, Gujarat Apollo & Wire & Wireless with 6 to 13pc gain. Top losers in the smallcap space were Ruchinfra, Core Projects, MSP Steel, Zenith Infotech & Jagatjit Ind down 4 to 5pc.
Sensex recovers; Wipro up 2.4pc
After starting on a flat note, at 11:07 am Sensex was up 61 points at 16,756 and Nifty shot up 17 points at 4,970. Buying interest in banking, technology, FMCG, metal, capital goods and auto stocks help the industries to recover.
Bharti Airtel, ONGC and Grasim retain gains. However selling in Jaiprakash Associates, DLF, Suzlon, Reliance Infrastructure, Unitech, Idea Cellular and Cairn India stocks capped the gains.
Among the largecaps gainers were TCS, Maruti Suzuki, Hero Honda, Wipro, Infosys, Jindal Steel, HCL Tech and IDFC with 1 to 2.4pc rise each.
In the midcap space, there were 4 to 6.5pc gain in Ackruti City, Andrew Yule, Shriram Transport, National Fertiliser and Shipping Corp, while Spice Communication, 3M India, Jagran Prakashan, Dish TV India and Monnet Ispat declined to 2.6 to 3.3pc.
While Advanta, Mukand, Wire & Wireless, SpiceJet and NOCIL went up 6 to 11pc among the smallcaps, Marathon Nextgen, Religare Tech, MSP Steel, Hindustan Motors and Core Projects loss 4 to 7pc.
Mahindra Satyam continued its 5pc loss. L&T gained 1 PC after raising Rs 303 crorewith the sale of 2.7 crore Mahindra Satyam's shares at Rs 112.45/share.
Sensex opened flat; Dollar rebounds by 0.8pc
Sensex opened on a flat note for the second consecutive day. Rebounding of dollar by 0.8 pc on Nov 12 put presssure on some of the metal stocks. Technology and realty stocks too were under pressure. However, auto, banking and telecom stocks were gainers.
At 9:56 am Sensex shot 40 points at 16,736 and the Nifty was up 15 points at 4,967. The CNX Midcap went up 21 points to 7,070.
Frontline losers in early tradeUnitech, DLF, Tata Steel, Sterlite Industries, Jindal Steel & Power, TCS, Infosys, Cairn and SAIL.
Jaiprakash Associates, Bharti Airtel, HCL Tech, Maruti, Ranbaxy Labs, L&T, Ambuja Cements, HDFC, ICICI Bank, Tata Motors and ABB were the gainers
Mahindra Satyam was down 5pc. Whereas Rs 303 crore via stake sale helped L&T gain 0.7pc.
Among the midcaps, gainers were WWIL up 12pc, Gujarat Sidhee gained 3.5pc and Mahindra Ugine shot up 5pc.
Sugar industries continued to see a positive day with Dhampur Sugar and Shree Renuka Sugars up 1-2pc each.
Easter Silk was down 5pc, Divestment candidates like HMT, NMDC and ITI declined over 3pc.