The main indices hit fresh intraday high and traded with strong gains in mid afternoon trade. The Nifty inched higher towards the 17,350 level. At 14:31 IST, the barometer index, the S&P BSE Sensex, surged 573.47 points or 0.99% at 58,258.49. The Nifty 50 index jumped 174.45 points or 1.02% at 17,341.55. 
The broader market lagged the benchmarks. The S&P BSE Mid-Cap index rose 0.61% while the S&P BSE Small-Cap index gained 0.86%. 

Buyers outnumbered sellers. On the BSE, 2,049 shares rose and 1,156 shares fell. A total of 154 shares were unchanged. 

The Nifty Metal index added 0.79% to 5,364.15, rising for second trading session. The metal index added 3% in two days. 

APL Apollo Tubes up 1.91%, Coal India up 1.41%, Tata Steel up 1.39%, Steel Authority of India up 1.12% and NMDC up 1.02% were the top gainers. Among the other gainers were JSW Steel up 0.64%, Jindal Steel & Power up 0.52% and Hindalco Industries up 0.46% were top gainers in metal space. 

Atul Auto fell 0.12%. The company sold 1,344 auto units in November 2021, which is lower by 16.05% as compared with 1,601 auto units sold in November 2020. The company's auto sales have de-grown by 37.23% as compared with 2,141 units sold in October 2021. 

Larsen & Toubro rose 0.08%. L&T announced a partnership agreement with ReNew Power to tap the emerging green hydrogen business in India. Under this agreement, L&T and ReNew will jointly develop, own, execute and operate green hydrogen projects in India. 

The yield on 10-year benchmark federal paper fell to 6.35% compared with 6.353% at close in the previous trading session. 

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 74.945, compared with its close of 74.91 during the previous trading session. 

MCX Gold futures for 3 December 2021 settlement rose 0.43% to Rs 47,783. 

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, rose 0.04% to 96.058. 

In the commodities market, Brent crude for February 2022 settlement rose 75 cents or 1.09% to $ 69.62 a barrel.