At the close of market hours, the Sensex was up 157.34 points or 0.44% at 35807.28, while the Nifty was higher by 49.90 points or 0.47% at 10779.80.
Equity benchmarks ended the session on a positive note, but off the high points. The Nifty ended December series below 10,800.
Shares began on a much higher note as global cues favoured the rally in Indian indices.
Some selling in banks, automobiles, metals and pharmaceuticals in the last hour weighed on benchmarks, while the Nifty Midcap index ended with gains of over one third of a percent.
At the close of market hours, the Sensex was up 157.34 points or 0.44% at 35807.28, while the Nifty was higher by 49.90 points or 0.47% at 10779.80. The market breadth was narrow as 1313 shares advanced, against a decline of 1233 shares, while 181 shares were unchanged.
Adani Ports, Reliance Industries, Tech Mahindra and ONGC gained the most, while Airtel, Hero MotoCorp, and Tata Motors lost the most.
Stocks in the News
Suven Life Sciences shares gained 2 percent on securing product patents in Brazil and Eurasia.
Container Corporation of India shares rallied 2 percent after global brokerage house PhillipCapital has maintained its buy call on the stock and sees a whopping 38 percent potential upside to Rs 900 levels.
Hindalco Industries shares gained 1 percent after Edelweiss Securities said it continued to prefer the stock among non-ferrous players in view of expected volatility in LME aluminium and alumina prices.
European markets were flat even as other global markets witnessed a rally. Stoxx 600 index was 0.05 percent lower.Shares in Asia rose, following an overnight surge. Nikkei 225 surged 3.88 percent on the day to close at 20,077.62 while the Topix jumped 4.90 percent to finish its trading day at 1,501.63.