The 30-share BSE Sensex shut shop at 16,306.87, up 17.05 points while the 50-share NSE Nifty closed at 4,867.25, up 14.15 points.
Buying was seen in metal, pharma, realty and select banking stocks along with Reliance Industries and HDFC while telecom and FMCG stocks along with ONGC, L&T, NTPC, Infosys and Hindalco witnessed selling pressure.
Reporting better-than-expected numbers for Q3FY10, Tata Steel surged 4.6 per cent in the trade.
The major loser was Aban Offshore which plummetted 8.4 per cent post disappointing numbers. Indian Overseas Bank (IOB) also declined early 6 per cent.
4: 35 PM
Mkts continue +ve on buying interest
Nifty continues to hold the 4900 mark on the buying in metal, technology, banking & financial, pharma, oil & gas exploration and select power companies' shares.
At 11: 44 am, BSE Sensex was trading 16474, up 184 points and the Nifty was at 4915, up 62 points. The broader indices gained 1.6 to 1.7 per cent.
The top gainers were HCL Tech up 5.48 per cent, Siemens and SAIL up 4.5 per cent each, Ranbaxy Labs, Axis Bank, Tata Steel, Wipro, DLF, Sun Pharma and M&M up 2.5 to 3.7 per cent.
The most active shares were L&T, Bharti Airtel, Hero Honda, ITC, BPCL, Tata Steel, Jai Corp, ICICI Bank and SBI.
The midcap gainers were Max India up 12.85 per cent, JM Financial, Asian Star, Gujarat NRE Coke and JSW Holdings up 5 to 7.5 per cent.
KGN Industries, Infotech Enterprise, Praj Industries, Shriram City and Carborundum were on the losing side, down 2 to 5 per cent.
In the smallcap arena, Koutons Retail, Int Conveyor, Oscar Invest, Karuturi Global and Fem Care Pharma shot up 7 to 8 per cent, while Atul, Sahara One, Jolly Boards, Richa Ind and JMD Telefilms fell 4 to 6 per cent.
Nifty crawls back above 4900 mark
After seeing a downtrend for six sessions, the Nifty bounced back on the back of buying interest and positive global cues.
At 9:02 am, NSE Nifty was trading at 4,904, up 51 points and BSE Sensex was at 16,453, up 164 points. The CNX Midcap was up 109 points at 7,203 and the BSE Smallcap up 131 points at 8,280.
Buying was seen in metal, realty, infrastructure, technology and banking stocks while Suzlon Energy, Hindalco, SAIL, Unitech, DLF, Cairn, HCL Tech, Jaiprakash Associates, M&M, Axis Bank, ICICI Bank, SBI, Reliance Industries, TCS were the frontline gainers.
On the losing side, ITC, HUL, Sun Pharma and Tata Power were the only losers. Nalco slipped 3 per cent on disappointing numbers.
In the Midcap and smallcap space, SREI Infrastructure and Lanco Infratech gained over 3 per cent, Indiabulls Financial was up 3 per cent, RCF and Gujarat NRE Coke rose 5 per cent each., Arvind and Bombay Dyeing surged 3 to 4 per cent, and Aptech rose 2.5 per cent.
However, EIH fell 2 per cent post weak earnings.
9: 49 AM