The Indian market took a big leap after the mid session to close with handsome gains on the back of heavy buying across all the sectors. Tracking the favoring cues from the Asian market, the domestic market opened on a firm note but lost the grip towards the mid session on the back of weak inflation data that grew to its 13 month high of 6.68% in the week ended March 15 from the previous week rise of 5.92%. But the market gathered the momentum after the mid session to recover from the fall and kept on marching forward till the final closing of the session. From, the sectoral front, all the sectoral indices closed in green while the metal, capital goods and realty index saw more buying by the investors.

The BSE Sensex closed higher by 355.73 points at 16,371.29 and NSE Nifty closed up by 111.75 points at 4,942. The BSE Mid Caps and Small Caps also closed higher by 246.53 points and 375.20 points at 6,522.79 and 7,901.98 respectively

The market breadth was very strong as 2,333 stocks closed in green as against 370 stocks that closed in red.

Major gainers from the Sensex pack are Tata Steel 9.46%, L&T 6.19%, Infosys 5.94%, Wipro 5.56%, BHEL 5.37%.

The BSE Realty index closed up 333.63 points to close at 7,984.92 as HDIL 18.55%, Akruti City 15.01%, Mahindra Life 9.66%, Purvankara 8.04%, Indiabull Real 4.04%, Ansal Infra 4.03% closed higher..

The Metal index surged 800.21 points to close at 14,654.19. Major gainers are Jindal Steel 15.91%, Tata Steel 9.46%, Sterlite Inds 5.18%, Welspun Guj 7.12%, Ispat Inds 5.70% and Jindal saw 4.48%.

The Bankex index closed with marginal gains of 23.58 points at 8,200.24 as Oriental bank 3.92%, BOB 3.63%, Andhra bank 3.51%, Canara bank 2.69%, IOB 1.99%, Union bank 1.85%, SBI 1.77% closed in green.

The Capital Goods index grew by 740.70 points to close at 14,455.14. Gainers are Suzlon energy 12.57%, Alsotom projects 7.47%, Praj Inds 6.96%, L&T 6.19%, Punj Lloyd 5.90%, AIA Engineering 5.76% and BEML 3.76%.

The Oil and Gas index closed up by 306.63 points at 10,467.61 as Cairn India 6.95%, BPCL 5.47%, Essar Oil 5.40%, RNRL 5.35%, RPL 4.69%, Aban Offshore 3.93%, Reliance Inds 3.19% and HPCL 2.51% closed in positive.

The IT index increased by 178.28 points to close at 3,758.03. Scrips that gained are Mosear Baer 20.01%, Finance Tech 11.26%, Mphasis 10.65%, Patni Comp 10.06%, Infosys 5.94%, Wipro 5.56% and Tech Mahindra 5.25%.

From the Power index, Suzlon energy 12.57%, Torrent Power 8.27%, Tata Power 3.56%, Bhel 5.37%, GMR infra 4.55% and Reliance Power 1.72% closed higher.