The market, which briefly fell into the red in early afternoon trade, bounced back smartly around mid afternoon, and despite paring some gains subsequently, remains fairly well placed in positive territory now thanks to strong buying in a few heavyweight stocks.
The Sensex, which vaulted to 18,599.14, gaining around 185 points in the process, is now at 18,528.45, up 114 points or 0.62% from its previous close. The Nifty is up 32.30 points or 0.58% at 5591.
Realty stocks have moved up smartly, and mirroring their surge, the BSE Realty index is now up by over 2%. Information technology, bank and capital goods stocks are the other major gainers.
Select healthcare and automobile stocks are trading firm. FMCG stocks are off their highs, while oil, power and metal stocks are trading weak.
Realty stock DLF has gained nearly 6%. Tata Motors is up almost 4%. ICICI Bank has also moved up by nearly 4%, contributing significantly to the market's rise this afternoon.
IndusInd Bank, Infosys, HCL Technologies and Lupin are up 2.5% - 3.2%. Larsen & Toubro, ONGC and Ranbaxy Laboratories are also up with sharp gains.
Meanwhile, Bharti Airtel, HDFC, Tata Steel, Grasim Industries, NTPC, IDFC, Reliance Infrastructure, Kotak Bank, Bajaj Auto and Reliance Industries are trading weak, losing 1.2% - 3%.