Nifty closed by going 50 points up and Sensex surged 170 points. ONGC was the leading gainer in the market. Shares of telecom, banking, auto, cement, metal and select technology companies also helped the indices.
Reliance Communications surged 11.5 percent. Bharti Airtel rose 5.2 percent, Idea Cellular 9percent, MTNL gained 2.5 percent and the BSE TECk Index including media, tech, telecom, was up by 2 percent.Reliance Industries closed flat.
The broader indices gained 0.8% each by the time of closing. Asian markets closed on a mixed note.
European markets were down by 2 percent because of fall in British Petroleum for second day.
Sensex trades in green; Nifty continues volatile
At 14:20 hrs, BSE Sensex was 16,605.06 up 33.03 points and NSE Nifty was 4979.10 up 8.90 points. Benchmark Sensex was on the green side, with a bit of volatility.
Telecom, gas, oil, auto, technology, cement and select pharma companies went up. SBI, HUL and L&T were also trading positive.
About 1733 shares advanced while 1319 shares declined on the BSE and 251 shares were unchanged.
Reliance Comm was up by 6.03 percent, being the best gainer in the market. ONGC was up by 2.94 percent, Bharti Airtel was up by 2.63 percent, Reliance Infra was up by 2.35 percent, Hero Honda up by 2.30 percent and Idea cellular by 7.04 percent.
Four Soft and Orient Press were the top percentage gainers who sacked 20 percent upper circuit.
OnMobile Global, Patni Computer, Pantaloon Retail, Religare Enterprise and GSFC gained 4 to 7.6 percent while JM Financial, Rei Agro, Indian Hotels, Allcargo Global and Motilal Oswal plunged 2.7 to 6.4 percent.
Nifty surged; Rel Comm, Idea, ONGC shot up
At 12:10 hrs, Nifty was hovering around 5000 points with marginal gains. BSE sensex was 16,646.06 up 74.03 points or 0.46 percent at 16647.76 and NSE Nifty was 4994.75 up 24.55 points (0.41 percent up at 4990.70 points).
About 1707 shares advanced, 1158 shares declined, and 438 shares were unchanged.
Telecom, auto, oil & gas and IT stocks witnessed buying whereas metal, realty and power stocks resumed the selling pressure. BSE Broader Indices were marginally trading in green.
Reliance Communications, Idea Cellular, ONGC, Mahindra and Mahindra and Maruti Suzuki were up 2 to 6 percent among the Largecaps whereas Tata Power, Jindal Steel, Sun Pharma, Cairn India and HDFC Bank plunged around 1.2 to 1.7 percent.
Infosys was up by 0.75 percent and Relaiance was up by 0.42 percent. HPCL was also up by 0.91 percent where as ITC was down by 0.97 percent. Hidustan Lever was slumped by 0.56 percent.
OnMobile Global, Religare Enterprises, Patni Computer, United Bank and Brigade Enterprises were the top gainers among the BSE Midcap. They were up 4 to 8.6 percent.
Benchmark Sensex consolidates
At 10:30 hrs, BSE sensex was 16,589.99 up 17.96 points and NSE Nifty was 4973.50 up 3.30 points.
Sensex was hovering around the previous closing value. Metal, realty and private banking were witnessing selling pressure.
The enterpreneurs in loss were BHEL, ITC, Power Grid and Cairn India.
Those on the positive side were telecom, auto, cement and select technology companies. ONGC, L&T, HUL, RIL and SBI also surged.
Shanghai lost 1.6% and Nikkei was down 1%. Hang Seng and Taiwan fell 0.4-0.66%. However, Straits Times gained 0.4%.