The markets displayed volatility till mid-afternoon trades, but bucked the downtrend towards the closing hours on steep buying in index heavyweights - Reliance, SBI, HLL, ITC and Infosys to touch a high of 4,868. The Sensex finally notched up 73 points gains to close at 4,855. The Nifty also ended 22 points higher at 1,543.

Reliance flared up 3% (Rs 13) to Rs 480. ITC traded off-highs, but closed up a per cent (Rs 5) at Rs 882. and HLL traded on a steady note, and ended nearly 2% higher (Rs 3) at Rs 190.

SBI firmed up towards the closing hours, and advanced 3% (Rs 14) to Rs 488. BHEL and HPCL closed up a rupee each at Rs 417 and Rs 341, respectively.

Infosys, after displaying mixed trends, ended nearly up a per cent (Rs 23) at Rs 4,737. Satyam and HCL Tech also ended with marginal gains.

Auto counters witnessed buying since opening trades and ended with sharp gains. Bajaj (up Rs 5% or Rs 42 to Rs 890), Tata Motors (up 3% or Rs 13 to Rs 380) and Hero Honda (up a per cent or Rs 3 to Rs 338) ended in positive territory.

While Tisco appreciated by 5% (Rs 17) to Rs 343, Zee moved up 3% (Rs 5) to Rs 136.