With several front line stocks from across various sectors still trading firm with impressive gains, the market looks all set to end its four-session losing streak today.
The mood is fairly bullish amid expectations of more announcements on the reforms front and on hopes the central bank will soon resort to some monetary easing to boost economic growth.
Asian markets mostly ended on a firm note today. European markets too are mostly trading higher, although buying interest is somewhat subdued.
At 18,779, the Sensex is now up 199.54 points or 1.07% from its previous closing mark. The Nifty is up 55.75 points or almost 1% at 5705.25.
Automobile, metla, FMG and consumer durables stocks are still trading notably higher. Power, pharmaceuticals and oil stocks too are mostly up in positive territory. Information technology and bank stocks have give up most of their gains. Capital goods stocks too are trading well off their highs. Realty stocks have turned subdued after a good spell in the morning session.
Hindalco is up 3.6% thanks to sustained buying at the counter. Tata Motors is trading higher by a little over 3%. Sun Pharmaceutical Industries, Tata Power, HDFC and ITC are up 2% - 2.6%.
ONGC, Sterlite Industries, Tata Consultancy Services, Maruti Suzuki, Cipla, Tata Steel, NTPC, Hindustan Unilever, Mahindra & Mahindra, Bharti Airtel, Reliance Industries, Wipro and Dr Reddy's Laboratories are also up with strong gains.
Meanwhile, State Bank of India, BHEL, Infosys, HDFC Bank and GAIL India are trading weak, posting marginal losses.