The 30-share BSE Sensex rallied 183.68 points or 1.9 pc to settle at 17,032.51 and the 50-share NSE Nifty closed at 5058.05, up 59.10 points or 1.18 pc. The broader indices also jumped over 1.2 pc.
The rally was mainly led by realty, auto, banking, oil & gas and metal stocks while technology stocks remained under pressure.
Positive global cues helped the benchmark indices. European markets were trading 1-1.5 pc higher and the US index futures gained 0.5 pc.
Asian markets closed strong; Shanghai surged 2.7 pc and other markets rose 1.3-1.7 pc while only Nikkei gained just 0.2 pc.
Sensex trading at 17k mark; auto metals up
At 12:23 pm, the Sensex was holding the 17000 mark while the Nifty was hovering around the 5050 level. Buying continued in auto, metal, realty and banking stocks.
The Sensex was up 195.87 points or 1.16 pc at 17044.70, and the Nifty was up 53.35 points or 1.07 pc at 5052.30. About 1891 shares advanced while 922 shares declined. Nearly 616 shares were unchanged.
In the largecaps, auto and metal stocks topped the gainers' list.
Maruti Suzuki, Tata Steel, Sterlite Industries, Hero Honda and SBI were up 3-4 pc. IT stocks like TCS, Wipro and Infosys were down 0.5-1 pc.
Nifty hovering around 5050 mark; auto, metal up
At 11:14 am, the Nifty was hovering around the 5,050 level while the Sensex was holding above the 17,000 mark.
The Sensex advanced 166 points to 17,016 and the Nifty rose 51 points to 5,050. The broader indices were also trading in line with the benchmark indices, gained 1.2 pc each.
About 1,896 shares advanced while 913 shares declined on the BSE. Nearly 620 shares were unchanged.
Buying was seen across all the sectors barring technology; auto, metal, realty and banking were the the leading sectors.
In the midcap space, Everest Kanto, Coromandel International, Alfa Laval and Jubilant were up 6 pc each while Shriram City, Blue Dart, Kirloskar Oil, Simplex Infra and HSBC Invest fell 1.4-3.8 pc.
In the smallcap space, Ratnamani Metal, Sundram, Pratibha Industries, Subros and Aditya Birla went up 8-12 pc while Sahara One, Advanta, Advani Hotels, Sanwaria Agro and Wire & Wireless declined 4-5 pc.
Sensex hits 17k points in early trade; RIL gains
The Sensex opened on a positive note led by positive global cues and turned back above the 17,000 mark in the early trade.
At 9:56 am, the Nifty rose 52 points to 5,050 and the Sensex gained 164 points at 17,013. The CNX Midcap went up 1pc to 7,171.
About 630 shares advanced while 88 shares declined on the NSE.
Metal, realty, banking and auto stocks were the gainers along with heavyweights.
DLF, Tata Motors, Sterlite Indusries, Hindalco, Glenmark, Unitech, PNB, SBI, L&T, HDFC Bank, Axis Bank, Tata Steel, Maruti, Hero Honda, Reliance Industries and ONGC were the gainers. However, Wipro was the loser.
Asian markets extended gains. Shanghai was up over 2 pc. Hang Seng, Jakarta, Straits Times and Taiwan Weighted gained 1-1.8 pc. Nikkei and Kospi rose 0.25 pc.