PSU oil & gas companies' shares witnessed huge buying interest.
Top gainers were BPCL up 6 percent, HPCL was up 3.5 percent, GAIL was up 2 percent, IOC was up 2.2 percent, ONGC was up 1.6 percent, Cairn India was up 1.6 percent and Reliance Industries was up 0.34 percent.
Top gainers in financial space was SBI up 2.3 percent, ICICI Bank was up 1.9 percent, Kotak Mahindra Bank and IDFC were up 1 percent each.
Top losers were ACC lose by 1.32 percent, Sun Pharma lose by 1.05 percent, Power Grid Corp lose by 0.68 percent and Reliance Infra lose by 0.56 percent.
Sensex gains 200 pts, realty, metal, IT gain
At 2:10 Hrs BSE sensex was trading with positive bias with 218.14 points surge and the NSE Nifty was up 67.35 points.
Realty, metal, IT, oil&gas and banking stocks were enjoying buying interest.
However, BPCL, Sterlite Industries, Unitech, SBI and Larsen, HUL, Tata Power, Sun Pharma and NTPC were top losers in Nifty.
Blue Dart, Bharat Forge, Akzo Nobel, Godrej Industries and Sadbhav Engineering were up by 5-6.5 percent on BSE Midcap.
Where as TV 18, Bajaj Holdings, Gee Kay Finance and AstraZeneca were down 2.5-11.5 percent on BSE Midcap.
Sensex soars up above 250 points
The Sensex soared up more than 250 points with the support from all the sectors.
Realty, metal, financials, technology, capital goods and oil & gas were the leading sectors.
Uptrends and shortcovering in US market were helpling the market on Wednesday, Jul 7.
Wall Street gained 3 percent led by financials, where world's second-largest custody bank, State Street gave an upbeat outlook & talks that European stress tests may assume a 17 percent loss on Greek bonds.
12: 09 pm, the Sensex was trading at 17718, up 247 points and the Nifty was at 5314, up 73 points. About 1096 shares advanced while 141 shares declined on NSE.
Sterlite Industries, Tata Steel, ICICI Bank, SBI were among the top gainers trading at Rs 164.40, Rs 485.75, Rs 864, Rs 2,352.30 repectively.
REI Six Ten, Prakash Inds, GTL were the gainers among the midcap space.
English India, Thinksoft, Koutons Retail were the gainers among the smallcap space. However, Aegis Logistics, Forbes Gokak, TCI Industries, Nalwa Sons and Modern India fell 1.7-3 percent.
Global cues take Nifty above 5300 mark
After weak trading in the previous session due to selling, the benchmarks have opened the day on a strong note on good global cues.
At 9:01 am, the Nifty was trading at 5302, up 61 points and the Sensex was at 17677, up 206 points.
This is the first time the Nifty shot up above the 5300 mark, after consolidating around 5200-5300 for three weeks.
Hindalco, Tata Steel, Tata Motors, Wipro, Sterlite Industries, Cairn, SAIL, Unitech, DLF, Infosys, TCS, ICICI Bank, Kotak Mahindra Bank, ONGC and SBI were the frontline gainers.
Reliance Industries gained 1.2 per cent.
PNB and HUL were the early losers.
9: 27 AM