With the bulls turning a bit aggressive, betting on hopes the government will step up reforms, the market has moved further up north in late afternoon trade and looks set to end the session on a buoyant note.
Easing worries about Greek debt crisis following the agreement reached between the International Monetary Fund and eurozone finance ministers to reduce the country's long term debt and the resultant strong start in European markets are aiding sentiment to a significant extent.
The Sensex is now up 315 points or 1.7% at 18,852. The Nifty is up 75.30 points or 1.7% at 5731.20.
Realty and consumer durables stocks are up sharply. Mirroring their surge, the BSE Realty and Consumer Durables indices have jumped nearly 3.5% now. FMCG, bank, metal, information technology, capital goods, oil and automobile stocks are also mostly up in positive territory. Select pharmaceuticals and power stocks too are trading firm.
Bharti Airtel, up 5.5%, tops the Sensex gainers list. HDFC, HDFC Bank, Hindalco, ITC, Cipla, Infosys and Bajaj Auto are up 2% - 3%. Tata Motors, Jindal Steel & Power, Reliance Industries, ICICI Bank and Dr Reddy's Laboratories are trading higher by over 1.5%.
BHEL, Tata Steel, State Bank of India, Wipro and Larsen & Toubro are also trading notably higher.
Jaiprakash Associates, BPCL, Sesa Goa, DLF, Punjab National Bank, Ambuja Cements, Axis Bank, Lupin, Siemens and Kotak Bank are all trading in positive territory with impressive gains.
Power Grid Corporation, NTPC and ONGC have missed out on the rally, and are trading in negative territory.
United Spirits (6.3%) and Pantaloon Retail (3.3%) are up sharply on strong volumes. Jet Airways too figures in the most actively traded securities list. However, the stock is down in negative territory with a loss of around 2.6%.