The sentiment got support from better-than-expected earning results by select companies and continuous buying by domestic financial institutions.
Sentiments took a hit after broader Asian markets weakened, following a renewed sell-off on Wall Street on Tuesday as energy shares dropped after crude oil prices plunged to a 13-month low amid weak earnings and US-China trade disputes, fuelling worries about economic growth
Bank Nifty closes at a 30-month high; Rate sensitives lead the rally on RBI rate cut optimism.
Traders said falling crude prices in the global market was a big boost for the economy as it lightens the country's import bill burden, eases inflation and current account deficit concerns.
On the sectoral front, rate-sensitive sectors such as Bankex and Auto gained by 1% and 0.7% respectively while BSE Consumer Durables gained 1.4%.
A declining rupee, elevated crude oil prices and sustained foreign fund outflows added to the gloom
The broader NSE Nifty slipped below the 10,500-mark by falling 103 points, or 0.97 per cent, at 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.
Muted quarterly earnings, mixed cues from global markets and unabated foreign fund outflows added to the volatility
The 50-share NSE Nifty slipped below the 8,200-mark to touch a low of 8,154.45, but settled at 8,170.80, down 90.95 points, or 1.10 per cent
The BSE Sensex moved up 103 points to 35,319.35, while the wider NSE Nifty finished at 10,741.70, up 23.90 points.
The NSE Nifty after shuttling between 10,441.90 and 10,341.90, ended 6.15 points, or 0.06 per cent down at 10,380.45.
The 30-share Sensex ended higher by 30 points.
No stock on BSE Sensex ended in red while only 3 stocks in the broader Nifty50 index settled the day negative
The 50-stock NSE barometer Nifty finished 22.50 points, or 0.21 per cent, down at 10,526.20
Investors accumulated quality stocks at valuable and attractive levels.
Markets ended higher for the second straight session mainly on the back of upbeat corporate earnings.
The broader NSE Nifty too fell below the 10,100 level by dropping 100.10 points to end at 10,094.25
The BSE Sensex zoomed 318 points to end at 33,351.57, while the broader Nifty spurted 88 points to 10,242.65.
In the metal pack, Tata Steel was up 3.7% while Vedanta was up 1.8% .
Construction major L&T was the biggest gainer among the Sensex components, spurting 2.30 per cent, after the company said its board has approved a Rs 9,000-crore share buyback plan.
Investor sentiments remained upbeat tracking global developments as the US, China geared up for trade talks due this week.
Surprisingly, RIL scrip also fell by 2.73 per cent to 1,029.15, becoming the second biggest loser in the index
Investors booked profits in range-bound trade, led by PSU, oil & gas, energy, infrastructure, telecom, realty, healthcare, bankex, FMCG, capital goods and power counters.
Sensex, Nifty put up a good show in closing trade.
The broader markets are trading inline with the larger peers with BSE Midcap and Smallcap indices up 1.5% each.
HDFC twins, Axis Bank, ICICI Bank and SBI from the financial space gained between 1-2.7%.
Gains in key IT, capital goods, healthcare and metal stocks, after consistent buying by domestic and foreign investors, helped both the key indices to scale new peaks.
Oil & gas, banking and pharma sector stocks stole the show
The broad-based NSE Nifty rose 52.80 points, or 0.50 per cent, to end at 10,530.70
OIL, IOC, HPCL, BPCL slipped between 0.1-1.5% each while the oil producing companies such as ONGC (0.1%), RIL (1.5%), GAIL(2.6%) also edged lower.
Investors indulged in profit booking at attractive and higher valuations
Stocks of companies having operations and exports to Europe were the top losers.
Market breadth on the BSE ended firm as 1,908 shares advanced and 1,156 shares declined
The NSE 50-share Nifty spurted 97.25 points, or 0.92 per cent, to 10,715.50
The S&P BSE Sensex surged 364 points to end at 24,607 and the Nifty50 soared 107 points to close at 7,476.
Tata Steel was the day's worst performer in the Sensex pack, plunging 3.25 per cent, followed by Bharti Airtel at 3.05 per cent.
World Bank lowered its global economic growth outlook for 2016 to 2.9% from 3.3% earlier.
Investors lost around Rs 1.57 lakh crore in market valuation on Friday.
Muted global trend after a report that US President Donald Trump was preparing to impose more tariffs on China hurt trading sentiments.
Among the gainers, Sun Pharma topped by rising 3.03 per cent as the weak rupee tempted buyers to accumulate shares of pharma exporters.
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