The market, which opened on a firm note this morning, remains well entrenched in positive territory now, with investors continuing to pick up stocks, betting on hopes the government will initiate steps to boost growth.
Oil, automobile, power, bank and PSU stocks are among the most impressive gainers. Capital goods, metal and healthcare stocks are also trading firm. Realty and FMCG stocks are off their highs, and information technology stocks continue to trade weak.
At 19,304.91, off the day's high of 19,338.78, the Sensex is now up 125.55 points or 0.65% from its previous close. The Nifty index of the National Stock Exchange is up 48 points or 0.81% at 5884.90.
NTPC is up 3.2% at Rs 154. ONGC has moved up by over 2.5%. Tata Motors is also trading higher by over 3.5%. Dr Reddy's Laboratories is up 2.3%. GAIL India, Maruti Suzuki, Bajja Auto, Reliance Industries, ICICI Bank, Coal India, HDFC, Hero Motocorp, Tata Power, Mahindra & Mahindra, Bharti Airtel and Larsen & Toubro are up 1% - 2%.
Jet Air India is up 13% on sustained buying at the counter following the company striking a deal with Etihad Airways. Mahindra & Mahindra Financial Services is up with a big gain of 11%. Havells India and CESC are up by around 4.3%.
Axis Bank is up nearly 3% on strong results. On Wednesday, the bank said its net profit rose rose 21.75% to Rs 1555.15 crore on 18.39% growth in total income to Rs 9054.72 crore in the January - March 2013 quarter, over the corresponding quarter last year.
Shriram Transport Finance, IndusInd Bank, Bajaj Finance, Cairn India, Idea Cellular, Reliance Communications, Container Corporation, L&T Finance Holdings, Exide Industries, FRL, Jubilant Foodworks and Glaxo Smithkline Consumer Healthcare are up 2.5% - 4.5%.
Tata Consultancy Services, Wipro, Infosys and HCL Technologies are trading lower by 1.3% - 2%. MindTree, Hexaware Technologies, Rolta India and Oracle Financial Services are also trading weak.
Hindustan Unilever, HDFC Bank, DLF, Jindal Steel & Power and Sun Pharmaceutical Industries are down marginally.