With several blue chip stocks from across various sectors trading firm with most of their gains intact, the benchmark indices Sensex and Nifty look all set to end the session on a buoyant note today.
A firm trend in global markets amid optimism that the U.S. government will avoid the fiscal cliff, expectations of speedier reforms back home and the recent strong ratings for the Indian economy and stock markets are all contributing to the upbeat sentiment today.
The Sensex is up with a gain of 285.63 points or 1.5% at 19,124.56. The Nifty is up 85.55 points or almost 1.5% at 5813.
Realty stocks are turning in a fine performance today, amid expectations of a pick up in demand for homes. Bank, automobile, capital goods, oil and metal stocks are also mostly trading notably higher.
FMCG, consumer durables, PSU and healthcare stocks are trading firm as well. Power stocks are edging higher after a subdued spell. Information technology stocks are moving sideways amid somewhat lackluster trades.
Asian Paints is trading stronger by over 5%. Tata Motors, Bajaj Auto, ICICI Bank, Cipla and Sesa Goa are up 3% - 4.5%. HDFC, BPCL, Grasim Industries, Jaiprakash Associates, Tata Power, Ranbaxy Laboratories and Larsen & Toubro are trading higher by 2% - 2.6%.
Reliance Industries is trading 1.7% up. HDFC Bank, DLF, IDFC, Sun Pharmaceutical Industries, Coal India, Kotak Bank, ONGC, Ultratech Cement, GAIL India, Ambuja Cements, Axis Bank, NTPC, Punjab National Bank and Reliance Infrastructure are also up sharply.
IndusInd Bank, extending recent upmove, is trading more than 5.5% up. Tata Chemicals has notched up a gain of 4.4%. RECL, LIC Housing Finance, Shriram Transport Finance, Power Finance Corporation, Cummins India, Container Corporation, Yes Bank, Biocon, United Phosphorus, Colgate Palmolive and Hindustan Petroleum Corporation are also trading sharply higher.