The Indian stock market is up sharply in early trades this morning with investors picking up stocks from across various sectors, betting on hopes the government will push forward economic reforms.
Healthcare, bank, consumer durables and capital goods stocks are among the prominent gainers. Several stocks from realty, FMCG, power and metal sectors too have moved up sharply.
There are notable gains for a few stocks from oil, automobile and information technology stocks as well. Midcap and smallcap stocks too have opened on a fairly buoyant note.
The BSE benchmark Sensex, which rose to 19,612.18, is up 186.41 points or 0.96% at 19,596.10. The Nifty index of the National Stock Exchange is up 53 points or 0.9% at 5961.90.
Sun Pharmaceutical Industries, up 3.7% at Rs 728, is the top gainer in the Sensex at present. Jindal Steel & Power and ICICI Bank are up 2.5% and 2.2%, respectively. Hindustan Unilever (1.8%), HDFC (1.5%), Cipla (1%), Reliance Industries (1%) and Dr Reddy's Laboratories (1%) are also up with impressive gains.
ITC, Wipro, Hero Motocorp, Tata Motors, HDFC Bank, NTPC, Coal India, State Bank of India, Tata Steel, Tata Power and BHEL are also trading higher.
Ambuja Cements is up by a little over 3%. Axis Bank, ACC, Ultratech Cement, Grasim Industries, Punjab National Bank, Bank of Baroda, Siemens, DLF, BPCL, IDFC and Lupin are up with sharp to moderate gains.
Cairn Inida, Sesa Goa, Hindalco and Tata Consultancy Services have missed out on the rally and are trading marginally down from their previous closing levels.