Fresh buying in noon trades helped the index rebound into the positive zone. Aggressive buying in select index heavyweights saw the index rally to a high of 16,338 - up 454 points from the day's low. The Sensex finally ended with a gain of 356 points (2.2%) at 16,371.
The BSE Small-cap index soared 5% (375 points) to 7,902, and the Mid-cap index surged 4% (247 points) to 6,523.
The market breadth was extremely positive - out of 2,741 35 stocks traded, 2,330 advanced, 373 declined and 38 were unchanged on Friday.
The NSE Nifty moved up 112 points (2.3%) to end at 4,942.
Index movers
Tata Steel soared 9.5% to Rs 717. Larsen & Toubro zoomed over 6% to Rs 3,147.
Infosys surged 6% to Rs 1,526. Wipro rallied 5.5% to Rs 454. Satyam gained 3.4% at Rs 408, and TCS added 2% to Rs 870.
BHEL moved up 5.4% to Rs 2,092. Jaiprakash Associates and NTPC rallied nearly 4% each to Rs 240 and Rs 204,
Reliance Energy added 3.7% to Rs 1,334. DLF, Reliance and ITC advanced over 3% each to Rs 696, Rs 2,348 and Rs 206, respectively.
Cipla gained nearly 3% at Rs 218. ACC was up 2% at Rs 835.
And the shakers
HDFC Bank slipped 2.3% to Rs 1,401.
HDFC dropped nearly 2% to Rs 2,613. ONGC and Tata Motors slipped around 1.5% each to Rs 1,052 and Rs 646, respectively.
Most active counters
Reliance topped the value chart with a turnover of Rs 356.40 crore followed by Reliance Capital (Rs 263.60 crore), HDFC (Rs 236 crore), Reliance Natural Resources (Rs 160.50 crore) and SAIL (Rs 159.25 crore).
Ispat Industries led the volume chart with trades of around 1.92 crore shares followed by Reliance Natural Resources (1.56 crore), IFCI (1.03 crore), Reliance Petroleum (98.10 lakh) and Centurion Bank of Punjab (83.95 lakh).