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.
Indian Stock Markets opened marginally higher, but later found support on back on strong global cues. The benchmark indices closed on a strong note for the second day led by telecom, capital goods, auto and bank stocks. The Sensex closed 194 points or 1.74% higher at 11,329 and the Nifty rose 1.67% or 57 points to settle at 3,480. The broader indices - CNX Midcap was up 1.68% and BSE Smallcap Index closed 68 points or 1.71%.
Asian stocks advanced for the second day, as gains by financial companies countered concern the global recession is hurting earnings. India’s benchmark Bombay Stock Exchange Sensitive Index may rise a further 10 percent to 12,300 with investors seeking to buy amid a “market correction” and the outlook for corporate earnings improving, BNP Paribas said.
Tokyo - Tokyo stocks ended Friday morning trading mixed ahead of corporate earnings reports. The benchmark Nikkei 225 Stock Average was down 29.05 points, or 0.33 per cent, to 8,817.96.
The Indian market finally breaks its three days losing streak, and settled the day with handsome gains. 
Washington - US stocks gained Thursday after energy, technology and tourism firms posted smaller-than-expected losses despite the deep, ongoing US recession.
