The market saw an extremely volatile session today and closed at the high point of the day. After a disastrous start, post the home minister's disinvestment comments and government's rejig on the direct tax code saw the market recover. The short covering rally today was led by realty, metal and IT stocks. Sensex shut shop at 16063, up 151 points and Nifty at 4765, up 54 points from the previous close. CNX Midcap index was up 2.10% and BSE Smallcap index was up 1.91%. The market breadth was positive with advances at 948 against declines of 310 on the NSE. Top Nifty gainers included Suzlon, Reliance Capital and GAIL while losers were Ambuja Cement, ACC and ITC.