Mumbai, July 23 - Strong corporate earnings prompted investors to buy into heavyweight stocks, particularly from realty, consumer durables and metal sectors, resulting in a key index of the Indian equities markets reverse Wednesday's losses and gain more than 387 points Thursday.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 15,008.78 points, gained 387.92 points or 2.61 percent to close at 15,231.04 points.

Similarly, the Nifty of the National Stock Exchange (NSE) closed 2.84 percent higher at 4,523.75 points.

Broader market indices ended in the positive terrain as well, with the BSE midcap index closing 2.29 percent up and the BSE smallcap index ending 2.16 percent higher.

The market breadth was positive with 1,803 stocks advancing compared to 835 declining, and 80 remaining unchanged.

Among the gainers on the 30-scrip Sensex were Reliance Infra, up 6.91 percent at Rs.1,166.65; DLF, up 6.77 percent at Rs.369.65; Maruti Suzuki, up 6.44 percent at Rs.1,295.55 and Hindalco, up 6.08 percent at Rs.90.70.

There were only two losers on the Sensex Thursday: Bharti Airtel, down 1.09 percent at Rs.813.90, and ONGC, which ended almost flat at Rs.1,092.85, losing Rs.0.05.

Data with the market watchdog, Securities and Exchange Board of India (SEBI), showed foreign funds were net buyers, lapping up scrips worth a little over $30 million.