Bullish Sensex closes 240 points higher on reports of robust advance tax payouts

Sensex heavyweights Reliance Industries, TCS and Larsen & Toubro advanced 1.55 percent, 1.92 percent and 1.35 percent respectively, fueling the bull-run.

Other major stocks that moved up were Jaiprakash Associates (up 2.92 percent), Reliance Communications (up 2.80 percent) and Reliance Infrastructure (up 2.65 percent).

However, performing on a disappointing note were India's largest oil explorer ONGC (down 0.93 percent), telecom giant Bharti Airtel (down 0.80 percent) and FMCG major Hindustan Unilever (down 0.31 percent).

The second-rung stocks fared well too with the BSE Midcap and Smallcap indexes closing 1.83 percent and 1.33 percent higher at 6039.07 and 7228.68 respectively.

The overall market breadth was positive as 1801 gainers led 994 losers while 78 closed unchanged. Hectic buying activity were seen in realty (up 3.91 percent), metal (up 3.74 percent), banking (up 2.50 percent) and auto (up 2.33 percent) counters.

Elsewhere, the broader 50-share S&P CNX Nifty of the National Stock Exchange (NSE) closed 1.74 percent or 83.50 points higher at 4892.10.