Auto, technology, metal, capital goods, banking and realty were the major gainers.
The BSE Sensex shut shop at 16,226.68, up 188.33 points and NSE Nifty ended at 4855.75, up 53.80 points
The day's losers were HDFC Bank, Hero Honda, HCL Tech, Axis Bank, Jindal Steel and Unitech.
The biggest loser tag remained with Bharti Airtel by pluging 5.5 per cent, after a massive 9 per cent fall on Monday, Feb 16.
Benchmarks gain on buying interest, European cues
Gaining support from the buying interest in oil & gas, metal, technology, pharma, capital goods, auto (4-wheeler), cement, power, FMCG and select banking stocks, Nifty is inching up towards 4850 mark.
The benchmarks also gained surrport from the 1 per cent surge in European markets.
At 2: 05 pm, the 30-share BSE Sensex was trading at 16166, up 127 points and the Nifty was at 4838, up 37 points. The broader indices were also trading in the positive territory.
In the banking space, SBI was up 1.2 per cent, ICICI gained 1.5 per cent, PNB rose 0.6 per cent. Hoever, HDFC Bank dipped 0.8 per cent and Axis Bank declined 0.33 per cent.
In the oil & gas space, ONGC, Reliance Industries, BPCL, GAIL and Cairn India went up 0.6 to 1.6 per cent.
In the IT segment, Infosys, Wipro and TCS gained 0.6 to 1.2 per cent.
Among the metals, SAIL, Tata Steel, Hindalco and Sterlite Industries went up by over 1.5 per cent while Jindal Steel was down 0.3 per cent.
The gainers in the capital goods segment were ABB, L&T, Siemens and BHEL, up 0.6 to 1.9 per cent.
2: 42 PM
Nifty hovering at 4800; Bharti further dips 3.7 pc
Despite the buying in capital goods, power, pharma, FMCG, auto, metal and select banking stocks , Nifty is hovering around the previous closing value.
The gains were limited due to the selling in HDFC Bank, Reliance Industries, Jindal Steel, Axis Bank, Unitech, Wipro, Hero Honda, PNB, Reliance Communications, Ambuja Cements and Jaiprakash Associates.
After pluging almost 9 per cent in the previous session, Bharti Airtel continued its downtrend by dipped 3.7 per cent even as the news of the company offering USD 10.7 billion to buy Zain's assets in Africa came to light.
At 11: 51 am, BSE Sensex was trading at 16066, up 28 points and NSE Nifty was at 4805, up 3.5 points.
In the midcap-smallcap arena, Bharat Forge, Jain Irrigation, Bayer Cropscience, Asian Star and Hindustan Oil Exploration were midcap gainers (up 2.6-2.9 per cent) while Varun Industries (up 12.88 per cent), Ahmednagar Forging, Gujarat Alkalies, Sunflag Iron and Cholamandalam (up 6.5 to 10 per cent) were trading strong among the smallcaps.
On the losing side were, Deccan Chronicle, UB Holdings, Indiabulls Real, OnMobile Global and Blue Dart (down 3 to 4 per cent) on the midcaps, while Thinksoft was locked at 20 per cent lower circuit, Solvay Pharma was down 11.93 per cent, KRBL, Kewal Kiran and Graviss Hosp declined 5 to 6.5 per cent among the smallcaps.
12: 10 PM
Mkts open green on buying interest
After trading in the red during most of the Monday, Feb 15 session, Nifty opened the day on a positive note on buying interest in metal, select banking, capital goods, auto and power stocks.
At 9:02 am, NSE Nifty was trading at 4817, up 15 points and BSE Sensex was at 16104, up 66 points. The CNX Midcap went up 20 points to 7269 and the BSE Smallcap rose 42 points at 8315.
The markets were trading amid volatility due to selling in Infosys, HDFC, Hero Honda, Bharti, HDFC Bank and PNB.
Sterlite Industries, Tata Motors, DLF, Jaiprakash Associates, Jindal Steel, Axis Bank, HUL, Cipla, SAIL, SBI and NTPC were the early fronline gainers, while Hero Honda, PNB, Idea Cellular and Siemens were also seeing selling pressure.
The Asian markets are shut. Nikkei and Kospi, which are the only ones open, are in the green as they gained 0.5 per cent and 0.8 per cent, respectively.
9: 50 am