The 30-share index Sensex of the Bombay Stock Exchange (BSE) continued its positive run for the third straight session on Friday and gained 196.66 points to mark its closure at 16,863.06 on strong support from the bull side in view of bullish advice from worldwide markets.

The broad-based Nifty closed at 5066.55 after gaining 63.45 points to end at 5066.55.

During the last three days, the sensex surged 842.58 points and Nifty gained 259.80 points.

Metal shares zoomed after metal costs surged in London on Thursday. Banking stocks moved up on new buying together with IT pivotals, reversing early losses, because of strong ADRs. Oil exploration stocks benefited after crude oil climbed up on Thursday.

Realty stocks posted gains for the third successive day.

Intraday volatility remained high on Friday. The market belled the day strongly following gains in Asian stock markets but shortly shed gains on account of profit taking. The market recovered again in morning trade. Stocks once again pared gains later. The stock market made recovery from lower level during noon trade.

European stock markets were trading 0.4 -0.8% up and US index futures surged 0.2% each, at the time of closing of Indian equities.

The monsoon rains are projected to hit India's southern coast by the next 3-4 days, the India Meteorological Department said.

The stock market saw 1989 advancements as against 949 declinations. The markets posted total turnover of Rs 85,518.63 crore.

On the BSE, Realty index gained 3.92% followed by Metal up by 3.54%, FMCG surged 2.34%, Auto climbed 1.47%, Power zoomed 1.42%, Teck increased 1.17% and IT remained by 1.09%.

The top gainers list comprised RCom, Sterlite Inds, Jindal Steel, DLF, M&M, ITC, JP Asso, Tata Power, NTPC, Hindalco, Infosys, RIL and ACC.

The losers list included Maruti Suzuki, HDFC Bank and L & T.