The Sensex opened in the red at 16,772, mirroring negative global cues. Follow-up selling saw the index slip to a low of 16,636 - down 150 points from the previous close.
However, fresh buying in mid-noon trades saw the index jump into the positive zone. Cues from European markets helped the markets rebound. The buying momentum was so strong that the index rallied past the 17,000-mark to a high of 17,042 - up 406 points from the day's low.
The Sensex finally ended at 17,021, up 236 points. Reliance Industries contributed the maximum, (47 points) followed by HDFC (24 points) and SBI (21 points).
The NSE Nifty ended at 5,052, up 64 points.
Among the sectoral indices, barring consumer durables all the index ended in the positive. The Bankex index led the upmove, up 2% at 10,253. It was followed by oil & gas and maetal indices, up 1.5% each.
The consumer durables on the other hand was down 1% at 3,484.
More From This Section
INDEX MOVERS...
ACC soared 4.5% at Rs 766 and Hindalco advanced 3.5% to Rs 134. Jaiprakash Associates, Tata Steel, HDFC, Mahindra & Mahindra and SBI added over 2.5% each to Rs 233, Rs 551, Rs 2,819, Rs 1,040 and Rs 2,336, respectively.
DLF, HDFC Bank, Reliance, Grasim, TCS, Sun Pharma, Sterlite and ITC increased 1.5-2.5% each.
...AND THE SHAKERS
Bharti Airtel on the other hand was among the top loser down 1.5% at Rs 289. Reliance Infrastrcuture, Maruti, BHEL and Tata Power were some of the other marginal losers on the BSE.
The market breadth tunred positive at close - out of 2,787 shares traded, 1,462 advanced, 1,226 declined on the BSE.
VALUE & VOLUME TOPPERS
HDIL topped the value chart on the BSE with a turnover of Rs 210.48 crore. It was followed by Suzlon (Rs 207.14 crore), JSW Steel (Rs 196.98 crore), SBI (Rs 180.15 crore) and Reliance (Rs 158.13 crore).
Cals Refineries led the volume chart with trades of 50.87 million shares. It was followed by Suzlon (28.16 million), Unitech (13.04 million), Dena Bank (9.46 million) and Mahindra Satyam (8.85 million) shares on the BSE