The 30-share Sensex closed at 27,112 up by 481 points whereas the Nifty ended higher by 139 points at 8,115.
Multiplex chains are rushing to smaller towns
Auto and realty shares were among the top Sensex gainers.
Nifty snaps 10-day winning streak
The 30-share Sensex ended up 248 points at a record closing high of 27,346.
Markets have witnessed a gap down opening mirroring losses in the global equities with US markets taking a hit on worries about the health of Chinese economy.
Sensex witnessed the biggest single day gain since May 2009 in absolute terms.
The Lodha Group has bought land parcels worth Rs 12,000 crore in Mumbai
Sensex gained 38.18 points or 0.15% at 25,918.95 and Nifty ended higher by 12.50 points or 0.16% at 7,739.55.
The 30-share Sensex dropped 298 points to end at 27,209 and the 50-share Nifty has lost 93 points to end at 8,174.
Investors booked profits at higher levels despite the growth oriented Budget.
The market benchmark appears set to end 2013 on a positive note with a modest gain of over 7 per cent, but such gains are not to be seen in a majority of stocks available in the market, which predominantly include those of mid-size and smaller companies, shows an analysis of various indices.
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As home deals are down to a trickle, most are looking at life beyond broking.
Investors cheered a sharp decline in the Current Account Deficit, which stands at a 4 year low as exports picked up and gold imports reduced.
The industry's reactions to the Budget have been mixed.
India Inc has few leaders who are likely to grab headlines in 2015.
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