BSE Sensex shut shop at 17,711.35, up 66.59 points or 0.38 per cent while NSE Nifty gained 0.39 per cent or 20.85 points to end at 5302.85.
Reliance Industries was one of the strong forces that led the markets and supported Nifty to hit the 52-week high of 5329.55. However, RIL shares plunged into the negative zone later in the day.
Technology stocks reeling under pressure, capping the gains to a large extent.
Asian markets also ended higher. At the time of Indian markets' close, European markets seeing marginally positive trade.
Nifty at 52-week high; IT down on selling pressure
Riding on the back of buying interest in oil & gas, banking & financial, capital goods, metal and realty shares Nifty touched a 52-week high of 5329.55.
At 1: 51 pm, BSE Sensex was trading at 17762, up 118 points and NSE Nifty was at 5318, up 36 points.
Positive global cues were also supporting the Indian indices in their rally.
However, Infosys, TCS, Wipro, Tata Motors, Cipla, Tata Power, Reliance Infrastructure, ABB and Suzlon Energy were trading in the red zone.
With technology stocks reeling under selling pressure, Infosys was down 2 per cent, TCS slipped 1.34 per cent and Wipro was down 0.5 per cent.
Mkts continue green, FMGC, metals, realty support
Markets continue to trade in green on support from oil & gas, capital goods, FMCG, metal, cement, realty, select banking and financial and auto companies shares. Nifty continues higher and is hovering around the 5300 mark.
At 12: 20 pm, BSE Sensex was trading at 17,710.85, up 66.09 points while NSE Nifty was at 5303.75, up 21.75 points.
On the negative side, Infosys, TCS, Wipro, Tata Motors, NTPC, HCL Tech, Cipla, Tata Power, ABB, Power Grid were reeling under selling. However, the losses were capped to some extent by Reliance Infrastructure
The new entrant, DQ Entertainment was trading up 38.63 per cent at Rs 110.90, over its issue price of Rs 80.
12: 27 PM
Nifty opens higher, hits 5300 mark
Nifty hit the psychological 5300-mark in the early trade on back of buying in capital goods, metal, realty and cement stocks.
At 9:05 am, BSE Sensex was trading at 17691, up 46 points and NSE Nifty was at 5293, up 12 points.
Tata Motors, Maruti, HDFC, Tata Steel, Hindalco, DLF, Bharti Airtel, SBI, L&T and BHEL were frontline gainers in the early trade while Infosys and HCL Technologies slipped.
Except Nikkei, all Asian markets were trading higher.