The 30-share BSE Sensex ended at 16,152.59, up 230.42 points or 1.45pc and the 50-share NSE Nifty gained 69.65 points or 1.46pc to 4826.85.
Greece bailout plan kept the global cues on a positive note throughout the day. In the Asian market, Hang Seng and Kospi surged 1.8pc each. Straits Times gained 0.7pc and Jakarta moved up 1pc, while Shanghai was up just 0.1%.
However, Taiwanese and Japanese were closed on Thursday, Feb 11.
When the Indian markets closed, European markets were up 0.4 to 1.1pc and US index futures shot up 0.5pc each.
Nifty up 1 pc; ICICI, Infosys surge
After witnessing a intraday high of 4831 Nifty was up more than 1pc, although it was below 25pc of the early gain.
At 12.34 pm, Sensex was trading at 16076.81, up 154.64 points and Nifty was up 58.70 points or 1.23pc at 4815.90.
In the largecap space, unitech with over 3pc rise was the major gainer, post reports on Telenor completing the acquisition of Uninor. ICICI Bank, Ambuja Cements, Jaiprakash Associates and IDFC surged 2pc each.
However, BPCL, Tata Power, Bharti Airtel and HDFC were trading in the red.
In the midcap space, Thomas Cook, Fortis Health, AstraZeneca, Texmaco and Financial Tech up 4.5 to 7pc were the top gainers, while Godrej Consumer, AIA Engineering, Apollo Tyres, Voltas and Glenmark down 1.5 to 2pc were on the losing side.
In the smallcap space, VIP Industries, Marg, Halonix, Fresenius Kabi and Titagarh Wagons became the top gainers with 5 to 12pc gain. However, Gati, Mah Polybutenes, Panyam Cements, Advani Hotels and Lancor Holdings down 4 to 5pc became the top losers.
Index heavyweight Hindustan Lever gained 0.89pc at Rs 232.20 from its previous close of Rs 230.15.
Trading at Rs 2,497.00 Tech major Infosys was up 1.02pc from its previous close of Rs 2,471.70.
Cigarette major ITC was trading at Rs 246.00 up 0.9pc from its previous close of Rs 243.80.
Sensex gains 237 pts; RIL, ONGC up
Buying interest in all sectors helped Nifty to continue its trade over 4800 mark. The major gainers at this session were realty, banking, metal, technology, capital goods and oil & gas stocks.
At 10:09 am, Sensex was up 237 points at 16159, while Nifty was at 4829, up 72 points.
In the banking space, ICICI Bank rose 3pc. HDFC Bank, SBI, PNB, Axis Bank and HDFC were up 1 to 2.3pc.
In the oil & gas space, ONGC, Reliance Industries and Cairn India surged 1 to 1.9pc.
Realty stocks like DLF rose 1.5pc and Unitech up nearly 3pc.
Among the metal stocks, SAIL, Jindal Steel, Tata Steel, Sterlite Industries and Hindalco moved up 0.9 to 2.5pc.
Meanwhile, Infosys, Wipro, TCS and HCL Tech rallied 1.3 to 2pc.
In the largecap space, Jaiprakash Associates, ICICI Bank, DLF, Hindalco, HDFC Bank and Unitech rose 1.8 to 3pc.
In the midcap space, Thomas Cook, BOC India, Texmaco (rail related), Fortis Health and AstraZeneca rallied 5 to 9pc while HMT, Apollo Tyres, Blue Star, Central Bank and AIA Engineering slipped 1 to 1.5pc.
In the smallcap space, Fresenius Kabi, KRBL, Titagarh Wagons (rail related), INEOS ABS and Kalindee Rail surged 5 to 11.8pc. However, Advani Hotels, Esab India, Gati, Vindhya Telelink and Swaraj Mazda were down 3 to 4pc.
Sensex opens on positive global cues
Sensex retraces on positive Asian cues at the opening session to recover Wednesday's, Feb 10 losses.
Sensex inches back towards above the 16000 mark and Nifty was hovering around the 4800 mark.
At 9:02 am, Nifty was up 38 points at 4795, and the Sensex was at 16047, up 125 points.
Among the frontliners, buying interest were seen in DLF, Jaiprakash Associates, ICICI Bank, Hindalco, Tata Steel, SAIL, SBI, HDFC Bank and Grasim, while Bharti Airtel was witnessing profit booking.
Midcap & Smallcap Space:
Fortis Healthcare, which is going to raise Rs 1250 crore has gained 2pc.
KRBL Kohinoor Foods, LT Foods and Rei Agro moved up 5 to 8pc.
Balrampur Chini, Bajaj Hindusthan, Rana Sugars and Dhampur Sugar rallied 3 to 5pc.
Kingfisher Airlines rose 4pc owing to right issue plan.
Burnpur Cement and Madras Cement were up 2.5 to 4pc.
Subex rose 2.7pc and Mirza International was up 3pc Pantaloon Retail shot up 4pc.
Asian markets were trading higher on the back of Greece bailout. Hang Seng and Kospi were up 1.3pc each. Straits Times went up 0.5pc. Shanghai shot up 0.25pc. However, Japanese and Taiwanese markets shut today.