The market, which opened on a rousing note this morning, remains high up in positive territory with bank stocks continuing to call the shots following the central bank cutting the marginal standing facility rate by 50 basis points to nine percent.
Shares from other rate sensitive sectors, realty and automobile, are also mostly trading notably higher. Several stocks from the capital goods section are up as well. Consumer durables stocks too have surged higher.
Select power, FMCG and oil stocks are up with notable gains. Healthcare and information technology stocks remain subdued.
The Sensex is up 166.80 points or 0.84% at 20,061.90, nearly 90 points off the day's high of 20,150.27. The Nifty index of the National Stock Exchange, which rose to 5981.70, is up 54 points or 0.79% at 5906.35.
Among realty stocks, DLF is up more than 3% at Rs 142.50. HDIL (Rs 40.25) is also trading stronger by over 3%. Anant Raj, DB Realty, Indiabulls Real Estate, Oberoi Realty, Phoenix Mill, Prestige Estates, Sunteck Realty and Unitech are up 1% - 2%.
IndusInd Bank, ICICI Bank, State Bank of India, HDFC Bank, Yes Bank, Punjab National Bank, Kotak Bank, Bank of Baroda, Bank of India and Canara Bank are all trading firm with impressive gains.
Larsen & Toubro is up nearly 3% following an announcement from the company that L&T Construction has won new orders worth over Rs 1600 crore across various business segments.
Hindalco, Coal India, Ranbaxy Laboratories, Lupin, GAIL India, Tata Steel, BPCL, HCL Technologies, Reliance Industries and NMDC are down in negative territory with sharp to moderate losses.