When the market closed Nifty was at 5088, up 71 points and Sensex closed at 17000, up 227 points.
The leader was Reliance Industries with 4pc gain and ended above the Rs 1,000 mark. NTPC, SBI, ICICI Bank, HDFC Bank, HDFC, Infosys and ITC were among the other gainers.
Sensex up 147 pts; power, metal shine
Nifty was inching towards 5100 mark as it contuied to stay firm at 5050 mark with positive bias. The benchmark Nifty has registered a gain of nearly 200 points or 4pc in last 3 trading sessions, showing the markets strength post budget.
Power, metal, realty, pharma and banking stocks witnessed buying. All BSE sectoral indices were trading in green.
At 12: 50 PM, Sensex gained 147.71 points or 0.88pc at 16920.27, and the Nifty was up 51.40 points or 1.02pc at 5068.40.
Among the largecaps, top gainer was Tata Power with 5pc surge. Jindal Steel, Jaiprakash Associates, Reliance Industries and Reliance Capital rose up 2 to 3pc while Ranbaxy Labs down more than 1.7pc. Maruti Suzuki, ONGC, Idea Cellular and Larsen down 0.5 to 1.5pc were on the losing side.
Hindustan Lever was trading at Rs 238.45 up 1.77pc from its previous close of Rs 234.30. Index heavyweight Reliance was trading at Rs 1,006.30 up 2.31pc from its previous close of Rs 983.60.
Losing 0.58pc from its previous close of Rs 241.95, Cigarette major ITC was trading at Rs 240.55. Tech major Infosys was trading at Rs 2,649.55 up 0.35pc from its previous close of Rs 2,640.40. Refinery major HPCL was trading at Rs 342.60 up 1.2pc from its previous close of Rs 338.55.
Nifty trades above 5052; Tata Motors, Reliance up
Nifty crossed the pyschological 5000 mark and was trading above the 5050 on the back of buying interest in heavyweights.
Heavyweight Reliance Industries along with metal, power, technology, realty and pharma stocks were witnessing buying interest.
However selling in ONGC, Maruti, ITC, L&T, ACC, Ambuja Cements, Idea Cellular and M&M limited the gain to some extent.
At 10:11 AM, Sensex was trading at 16875, up 104 points and the Nifty was at 5052, up 35 points.
The broader indices, up 1.3pc each were outperforming the benchmark indices.
Top gainers were Jaiprakash Associates was trading at Rs 141.10, up 3.14pc, Reliance was at Rs 1,012.05, up 2.89pc, DLF was at Rs 298.10, gain 2pc, Tata Power was at Rs 1,295.30, surged 1.99pc; Reliance Infra was at Rs 1,007.40, up 1.21pc, Jindal Steel was at Rs 676.20, up 3.72pc and Suzlon Energy was at Rs 73.95, up 1.79pc.
In the BSE Midcap, top gainers were BF Utilities gained 14.36pc. Triveni Engg, Jet Airways, Engineers India and Jai Corp moved up 4.4 to 8pc.
On the losing side were Asian Star down 4.94pc. Shriram City, Kalpataru Power, Infotech Enterprise and Shriram Transport Finance tanked 1.6 to 2.5pc.
In the BSE Smallcap, Modern India up 14.05pc. Nectar Life, Nucleus Software, SREI Infra and Mount Everest surged 5.7 to 10pc were the top gainers, while Kwality Dairy, Jindal Worldwid, Gemini Comm, Sahara One and Rollatainers down 3.4 to 5pc were on the losing side.
Asian markets were positive in trade. Shanghai, Nikkei, Jakarta, Kospi and Taiwan surged 0.1 to 0.35pc while Straits Times and Hang Seng were flat.
Nifty opens on a positive note; RIL gains
Continuing with the post budget cheer, Nifty opened on a positive note for the third consecutive day on the back of Asian cues.
In the early trade, the leaders were heavyweights like Reliance, TCS, Bharti, SBI, ICICI Bank and Infosys.
At 9:02 PM, the Nifty was trading at 5033, up 16 points and the Sensex was at 16834, up 62 points.
Among the frontliners, buying interest were witnessed in Tata Motors, TCS, Jaiprakash Associates, Reliance Industries, Hero Honda, Hindalco, HDFC Bank, Bharti Airtel, DLF, M&M, Wipro and Axis Bank.
Ranbaxy Labs which has reach settlement with Impax for generic Tamsulosin slipped 3.6pc.
ITC lost 1pc on profit booking.
In today's new listing: ARSS Infrastructure, trading at Rs 678, rose up 51pc over its issue price of Rs 450.
In the Midcap & smallcap space:
Jet Airways moved up 5pc and Kingfisher gained 0.5pc.
Lloyd Steel was up 5pc and Mahindra Forgings surged 1.5pc.
Subex went up 3.5pc.
Bajaj Hindusthan, Balrampur Chini, Shree Renuka Suguars and Triveni Engg rose 0.7 to 2.5pc.
Nectar Lifesciences was up 3.4pc.
However, TVS Motors dipped 1pc.
Asian markets were trading in green. Shanghai, Hang Seng, Jakarta, Nikkei, Straits Times, Kospi and Taiwan Weighted moved up 0.1 to 0.4pc.