The Sensex surged during afternoon trade led by buying in frontline stocks.

On sectoral front, Banking, capital goods, consumer durables and realty stocks contributed to most of the market rally, while IT and FMCG stocks went down.

On the other hand, BSE Midcap and Smallcap index gained 1.49% and 1.69% respectively.

The market was unstable. It marched up in a volatile early trade. Later it fell into the red zone. It regained during morning trade. Volatility ruled the roost during early afternoon trade.

Market spurted in mid-afternoon trade as European stocks got up in early trade.

The market breadth, showing the overall health of the market, was strong. On BSE, 1,546 stocks advanced as compared to 877 that declined. A total of 69 shares remained unchanged.

At 02.10 p.m., the 30-share index Sensex stood at 11,323.51, up 188.52 points, after hitting a high of 11,334.20 and a low of 11,070.33.

In the meantime, the broad based Nifty gained 58.00 points at 3,481.70. It also touched a high of 3,483.25 and a low of 3,402.90.

The major gainers in the 30-share index included Mahindra & Mahindra (9.15%), Bharti Airtel (6.73%), Jaiprakash Associates (5.27%), Reliance Communications (4.06%), State Bank Of India (4.05%), and Grasim Industries (3.51%).

The top losers in the Sensex were Wipro (1.81%), Ranbaxy Laboratories (1.47%), Tata Motors (1.26%), Infosys Technologies (0.82%), Hindustan Unilever (0.69%), and NTPC (0.42%).