The Sensex surged to a high of 16,139. The index has started slipping again and is now up 112 points at 16,128.
The NSE Nifty is up 30 points at 4,813. Earlier in the day, the index touched a high of 4,822.
The BSE metal index has added 2% to 13,239.
Reliance Infrastructure has surged 4.5% to Rs 1,212. Metal stocks, Sterlite and Hindalco have gained around 3% at Rs 733 and Rs 111, respectively. Tata Steel has added 2.5% to Rs 452.
Jaiprakash Associates , Hero Honda, TCS and ACC have advanced 2% each. DLF, Larsen & toubro, Reliance, SBI and Grasim have moved up 1-2% each.
The market breadth is fairly positive. Out of 2,484 stocks traded 1,623 have advanced while 786 have declined.