GAIL closed with gains of more than 4% following the hike in gas prices.
HDFC Bank closed with a gain of around 0.1% after it posted a 20% rise in quarterly net profit at Rs2,380 crore compared to Rs 1,982 crore in the preceding fiscal, though the numbers are below market estimates of around Rs 2,425 crore.
The market breadth ended positive with 1,473 advances against 1,337 declines
GAIL, SSLT, BHEL, Wipro and NTPC were the major Sensex gainers, while the major losers were ONGC, M&M, Coal India, Infosys and Sun Pharma
The 30-share Sensex closed up 145 points at 26,575 and the 50-share Nifty closed up 48 points at 7,927
The Sensex and the Nifty rose nearly 0.6% at the closing session on Tuesday on continued buying by funds and retail investors amid firm European cues.
Motilal Oswal Financial Services rose 5.41% to Rs 232 on BSE after consolidated net profit jumped 481% to Rs 32.65 crore on 54% rise in total revenues to Rs 178.60 crore in Q2 September 2014 over Q2 September 2013.
Thirteen steel and cement stocks rose by 0.28% to 5.43% on BSE on reports government will auction 74 coal-mining licenses to private companies in the next three to four months
M M Forgings jumped 5.58% to Rs 510.50 on BSE after net profit surged 97.3% to Rs 13.14 crore on 25% rise in net sales to Rs 122.07 crore in Q2 September 2014 over Q2 September 2013.
Ten power stocks rose by 0.43% to 2.92% on BSE as Coal Minister Piyush Goyal quoted by media as saying on Monday, 20 October 2014, government will auction 74 coal-mining licenses to private companies in the next three to four months.
Jindal Steel & Power surged 6.2% to Rs 143.80 on BSE, after the government proposed an ordinance to allow e-auction of mines to private players.
Shriram Transport Finance Company declined 2.72% to Rs 898.15 on BSE after consolidated net profit fell 11.9% to Rs 310.04 crore on 7.49% rise in total income to Rs 2261.24 crore in Q2 September 2014 over Q2 September 2013.
Sasken Communication Technologies rose 1.67% to Rs 253.20 on BSE after company's consolidated net profit galloped 1002% to Rs 92.14 crore in Q2 September 2014 over Q1 June 2014.
SKS Microfinance rose 1.82% to Rs 318.50 on BSE after net profit jumped 247.3% to Rs 56.75 crore on 48.7% growth in total income to Rs 201.02 crore in Q2 September 2014 over Q2 September 2013.
Idea Cellular rose 1.06% to Rs 162.75 on BSE after consolidated profit after tax rose 3.8% to Rs 755.90 crore on 0.11% growth in total revenue to Rs 7569.90 crore in Q2 September 2014 over Q1 June 2014.