Markets closed firm on Tuesday with the benchmark index Sensex gaining 6.1 per cent or 928 points. It closed at 16,217 levels.

In broader markets, Nifty was in green territory by 267 points or 5.8 per cent and was trading at 4877 levels. Buying was visible in information technology, banking, realty and metal counters by over 6.4 per cent each.

 “I expect Sensex to reach 17,000 levels and Nifty to touch 5050 levels.  I am bullish on banking, oil & gas and capital goods counters. I don’t recommend the investors in going sort in the next couple of days,” said Sandeep Wagle, Chief Technical Analyst, Angel Broking.

“The movement of real estate stocks is very impressive. The investors can bet on these counters in the long-term, and even in short term for trading purpose. Going forward, our markets can be affected by global cues and so the investors should take cautious approach,” added Dipan Mehta, Member, BSE & NSE.

The other Asian markets also closed firm on Tuesday. South Korea's Kospi, Hong Kong's Hang Seng and Japan's Nikkei were in the green by over 1.2 per cent.

Jaiprakash Associates at Rs 233 gaining 16.4 per cent or Rs 32 was the biggest gainer in the BSE-30 pack.

Reliance Energy, DLF, ICICI Bank and Infosys were some of the other major gainers.

Among the NSE-50 scrips, Unitech, Wipro, Housing Development Finance and ONGC were in the green by over 8.9 per cent each.

Realty gain

The BSE real estate index gaining 10.8 per cent or 734 points was the biggest gainer among the sectoral indices. Housing Development & Infra, DLF, Unitech and Kolte-Patil were the major gainers in this pack.