Thanks to sustained buying in several blue chip stocks from across various sectors, the market has moved up smartly past mid afternoon, and looks well set to end the day on a buoyant note.
The Sensex, which rose to 20,112.83, is now up 165.80 points or 0.85% at 20,089.58. The Nifty is up 45.25 points or 0.75% at 6064.60.
Realty stocks, after recent sharp losses, have come back strongly and are trading with handsome gains today. Mirroring hectic buying in that space, the BSE Realty index has surged as much as 3.4% now.
Automobile stocks, led by Maruti Suzuki, are trading firm. Consumer durables, capital goods, healthcare, bank and power stocks are also mostly up with strong gains. Select FMCG, metal and information technology stocks are trading firm, while oil stocks remain a bit subdued.
Maruti Suzuki is up 3.75% at Rs 1594. The company has posted a net profit of Rs 501.29 crore for the quarter ended December 31, 2012 as compared to Rs 205.62 crore for the quarter ended December 31, 2011. Total income increased from Rs 7906.21 crore for the quarter ended December 31, 2011 to Rs 11,388.96 crore for the quarter ended December 31, 2012.
Tata Motors and Mahindra & Mahindra are up 3.2% and 3%, respectively, while Hero Motocorp, which is somewhat subdued, is up with a modest gain of 0.3%.
Hindalco is up nearly 2.5%. Sterlite Industries and Jindal Steel & Power are up 2% and 1.7%, respectively, while Tata Steel is up by around 0.5%.
GAIL India, State Bank of India, Sun Pharmaceutical Industries, Cipla and Larsen & Toubro are up 1.5% - 2.3%. ICICI Bank, Bharti Airtel, Dr Reddy's Laboratories, Tata Consultancy Services, Hindustan Unilever, ITC, HDFC Bank, ONGC, Infosys and BHEL are up 0.5% - 1.3%.
Jaiprakash Associates, up nearly 5.5%, is the biggest gainer in the Nifty index. Bank of Baroda is up by a little over 5%. DLF and Reliance Infrastructure are up by around 3.5%.
Punjab National Bank, Sesa Goa, HCL Technologies, Kotak Bank, BPCL, Lupin, IDFC and Grasim Industries are up 1% - 3%. Ambuja Cements, Siemens and Ranbaxy Laboratories are also trading firm.
Shriram Transport Finance is up nearly 1.5% following an announcement from the company that its net profit rose nearly 20% to Rs 375.33 crore for the quarter ended December 2012.
Reliance Power is also up on good results. The stock is up more than 3.5% after the company said its consolidated net profit rose more than 30% in the October - December 2012 quarter.
ACC, Ultratech Cement, Tata Power, Reliance Industries, HDFC, Axis Bank and Cairn India are trading weak.