The Sensex opened with a gain of 12 points at 5,633. The market was volatile on Wednesday, as the index, which oscillated between the positive and negative zones in the first half, eased towards the late morning deals on selling in most of the sectors to touch a low of 5,575.

Buying emerged in the afternoon trades and pushed the index back into the green. The markets propelled towards the fag end as relentless buying across-the-board fuelled the rally, which saw the index zoom past the 5,750 mark to touch a high of 5,770.

The Sensex finally ended with a gain of 2.42% (136 points) at 5,757.

The Nifty, after a mixed outing, rose 3.01% (53 points) to close above the 1,800 levels at 1,822.

Reliance displayed mixed trends and ended nearly 3% up (Rs 17) to close at Rs 572. HLL closed up a rupee at Rs 193. ITC, however, remained weak throughout the session, and ended with a loss of 1.85% (Rs 19) at Rs 1,002.

SBI surged 3.65% (Rs 21) to Rs 590. While BHEL bounced from its lows to finish 2.28% up (Rs 12) at Rs 548, MTNL rose 5% (Rs 6) to Rs 135. HPCL ended with a modest gain of Rs 3 at Rs 423.

Infosys advanced 3.33% (Rs 173) to Rs 5,387. Satyam moved up 4.29% (Rs 13) to Rs 305. Wipro, however, ended weak with a per cent loss (Rs 10) at Rs 1,518.

Hero Honda scaled up 6.21% (Rs 27) to Rs 461. While Tata Motors flared up 6.26% (Rs 32) to Rs 545, Bajaj moved up nearly 2% (Rs 19) to Rs 1,028.

L&T (up Rs 17 or 3.37% to Rs 519), Gujarat Ambuja (up Rs 13 or 4.54% to Rs 294) and ACC (up Rs 13 or 5.44% to Rs 256) raked in fresh gains to end at higher levels. Grasim, however, lost ground since mid-morning deals, and lost 2% (Rs 22) to Rs 1,095.

ONGC at Rs 718 (up Rs 25 or 3.58%), Hindalco at Rs 1,220 (up Rs 23 or 1.88%), BSES at Rs 579 (up Rs 32 or 5.82%) and HDFC Bank at Rs 350 (up Rs 11 or 3.38%) rallied sharply on sustained buying support. Bharti Tele was up 2.38% (Rs 3) at Rs 131.

Tisco notched up 7.78% gains (Rs 30) to Rs 416. Tata Power jumped 6.54% (Rs 23) to Rs 379.

Zee emerged as a major gainer amongst the index-based stocks, and spurted 16% (Rs 22) to close at Rs 156.

Dr. Reddy's gained 2.16% (Rs 28) to Rs 1,323. While Cipla was up Rs 6 at Rs 1,149, Ranbaxy closed up a rupee at Rs 989.