Even global markets were quite supportive and Asian markets like Nikkei, Shanghai and Straits Times gained 0.8-1.3pc. Hang Seng was up just 0.24pc. The Dow Jones added 44 points.
The 30-share BSE Sensex closed at 18,454.94, up 197.82 points or 1.08pc and the 50-share NSE Nifty rose 61.05 points or 1.11pc to settle at 5,540.20. The broader indices like BSE Midcap and Smallcap indices gained 0.8-0.9pc.
Private financial companies' ICICI Bank was up 4.66pc and HDFC was up 3.84pc.
Heavyweight Reliance Industries gained 1.3pc and Cairn India was up 0.6pc.
Nifty keeps trading with positive bias
With the strong buying in FMCG and banking stocks, the markets were trading at 30-month high.
The Nifty was continuing trade above 5500 with postive bias.
At 1:29 pm, the Sensex was up 137.42 points or 0.75 percent at 18394.54, and the Nifty was up 42.90 points or 0.78 percent at 5522.05. About 1727 shares advanced, 1298 shares declined, and 355 shares remain unchanged.
Wockhardt, MVL, Thomas Cook were among the top midcap gainers with 8-20 percent.
Rain Commodities, Natco Pharma, Marg were among the smallcap top gainers with 9-13 percent.
Nifty continues to be green
Getting support from private financial, FMCG, cement, healthcare, metal and ADAG companies' shares along with heavyweights Reliance Industries, Nifty continued gaining.
At 12:10 pm, the Sensex was trading at 18439, up 182 points and the Nifty was at 5532, up 53 points. However, the Nifty Aug future was trading at 11 points discount.
Asian markets were also quite supportive; Shanghai, Nikkei, Jakarta, Hang Seng, Kospi and Straits Times were up one percent each. Taiwan Weighted was flat.
Shares of Reliance Infrastructure, Reliance Capital and Reliance Power were 0.9-1.7 percent up and Reliance Communications rose 0.2 percent.
HDFC and ICICI Bank were among the top gainers with 3.83 percent and 3.43 percent up respectively.
Nifty touches 5500 mark, starts on a positive note
After a long time, finally Nifty reached the 5500 mark.
Buying in healthcare, select financials and infrastructure companies' shares helped the index.
At 9:09 am, the Nifty was trading at 5502, up 23 points and the Sensex was at 18341, up 84 points. The CNX Midcap rose 19 points to 8852; about 625 shares advanced while 211 shares declined.
The shares of the companies like ICICI Bank, L&T, Ranbaxy, PNB, M&M, HCL Tech, Cairn, SAIL, ITC, Cipla, Sun Pharma and HDFC, who were in frontliners, were watching buying interest.
However, Idea lost 3 percent and Suzlon declined 1.4 percent, touched a life time low.
The shares of Tata Motors, Reliance Communications and Unitech were down.