The Sensex soared 402 points higher to end at 25,720 and the Nifty surged 130 points to close at 7,819.
Barring oil and gas, all BSE sectoral indices finished in the green.
The 50-share NSE Nifty stayed in the positive zone and retook the 9,900-mark to hit a high of 9,905.05 as buying paced up towards the fag end. It settled higher by 72.45 points, or 0.74 per cent, at 9,899.60.
It goes without saying that the best performers are in the private sector, says TN Ninan.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Three stockmarket experts give their best picks for the New Year.
Sensex climbs higher on favourable global cues.
Financials declined amid profit taking while energy shares fell after the government hiked excise duty on transport fuels.
Sun Pharma was the biggest loser among Sensex components, plunging 3.94 per cent, followed by Tata Steel falling 3.12 per cent.
The 30-share Sensex ended down 414 points at 25,481 and the 50-share Nifty slipped 119 points at 7,603.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The wider NSE Nifty touched a low of 10,652.40 before finishing at 10,671.40, showing a loss of 97.75 points, or 0.91 per cent.
The NSE Nifty settled the day 93.20 points or 0.88 per cent lower at 10,452.30 after shuttling between 10,612.90 and 10,434.05.
The Nifty50 slipped 33 points to close the session at 8,509 after hitting an intra-day high of 8,587.
Creating history, leading exchange BSE on Wednesday peaked above Rs 100-trillion mark to scale a new record in terms of market wealth of all listed firms.
Banking shares saw a renewed buying interest on the hopes of a rate-cut by the central bank post the easing of macro-economic data.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
Sensex remained volatile through the day.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Shedding its gains from Monday, NIkkei has declined around 0.7% while Hang Seng and Shanghai Composite were trading marginally lower.
In the broader market, BSE Midcap and BSE Smallcap indices mirrored the gains in headline indices and rose 1% and 0.9% respectively.
The session was marked by volatility and stock-specific action, even as the overall sentiment remains risk-averse, brokers said.
While gold returned 12 per cent annual gain in 10 years, Nifty didn't exceed 9 per cent.
The broader NSE Nifty moved between 10,705 and 10,785.55, before ending 25.15 points, or 0.23 per cent down at 10,716.55.
Oil & gas, banking and pharma sector stocks stole the show
But the 30-share Sensex rose by 141.52 points, or 0.41 per cent, to close at 34,297.47. The broader NSE Nifty gained 44.60- points, or 0.42 per cent, to end at 10,545.50 after touching a high of 10,618.10.
The 30-share Sensex stayed in the green for the better part of the session and hit the day's high of 38,297.70 as buying pace gathered momentum towards the fag-end.
The 30-share Sensex surged 299 points to close at 28,736 and the 50-share Nifty gained 90 points to end at 8,723.
The NSE Nifty also moved up by 12 points to 8,648.35.
The market breadth in BSE remains positive with 1,554 shares advancing and 1,196 shares declining.
Dream rally: Investors' wealth doubled in 5 years in India's equity market on Friday.
The BSE Midcap and the BSE Smallcap indices pared all intraday gains to end 0.3% and 0.5% lower
From crisis leaders to future Goliaths, India Inc saw them all in 2017, says Shailesh Dobhal.
Muted quarterly earnings, mixed cues from global markets and unabated foreign fund outflows added to the volatility
Auto stocks led the rally with Tata Motors, Hero MotoCorp and Maruti Suzuki leading the gains.
Private lenders HDFC Bank and ICICI Bank were the top gainers along with index heavyweights
The broader markets ended negatively with mid-caps and small-caps shedding 0.5 per cent on the BSE.
Mid-caps in cyclical sectors such as cement, financials and capital goods estimated to earn much more
The broader NSE Nifty too fell below the 10,100 level by dropping 100.10 points to end at 10,094.25