Thanks to sustained buying in select blue chip stocks, the market, which opened on a firm note this morning, remains fairly well placed in positive territory.
Shares of state run oil marketing firms are trading sharply higher with investors indulging in some hectic buying amid hopes of a hike in fuel prices. Information technology, PSU, power, capital goods and metal stocks are also trading higher.
Select stocks from realty and automobile space are up with notable gains. A few stocks from healthcare sector are also trading higher. FMCG and bank stocks continue to trade flat.
The Sensex is up with a gain of around 105 points or 0.53% at 19,428. At 5902.50, the Nifty is up 20.60 points or 0.55% from its previous closing mark.
BPCL is up more than 4%. Hindustan Petroleum Corporation is up with a gain of 4.3% and Indian Oil Corporation is trading higher by around 3%.
ONGC is up with a gain of 3%. Reliance Industries, Maruti Suzuki, Ambuja Cements, Hindalco, IDFC, Hero Motocorp, Asian Paints and Infosys are trading higher by 1.3% - 2%.
Coal India, Axis Bank, State Bank of India, HDFC Bank, ITC and Mahindra & Mahindra are trading weak.
United Phosphorus, Crompton Greaves, Power Finance Corporation, SAIL, Aditya Birla Nuvo, IDBI Bank and Oracle Financial Services are also up with strong gains.
Shares of Bharti Infratel opened at a discount on debut. The stock, which declined to Rs 192, is currently trading at Rs 196, down 11% from the issue price of Rs 220. On the National Stock Exchange, the Bharti Airtel counter has clocked a volume of nearly 20 million shares till now.
In the currency market, the rupee surged to 54.87 against the dollar in early trades, gaining 7 paise. A higher opening in the equity market and strengthening of the euro against the American currency overseas supported the rupee. On Thursday, the rupee had ended at 54.94 against the greenback, losing 10 paise.