Sensex up 314 points as bulls turn aggressive; Realty, bank stocks rally

The market, which opened on rousing note this morning, has moved further up north in style with the bulls turning quite aggressive amid hopes of some monetary easing by the Reserve Bank of India. A firm trend across the Asian region on the back of some encouraging economic data from Germany is also contributing to the upbeat mood on the bourses.

The Sensex is up 314.08 points or 2.1% at 15,832. The Nifty index of the National Stock Exchange is up 93.50 points or 2.02% at 4730.25.

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Mirroring widespread buying, all the sectoral indices are up in positive territory with strong gains. Metal, realty, information technology and bank stocks are among the top gainers. Capital goods, power and consumer durables stocks too are mostly up with impressive gains.

Several stocks from FMCG, healthcare and automobile sectors are trading notably higher. Though shares of PSU oil marketing firms HPCL, BPCL and Indian Oil Corporation are trading weak (losing around 1.3%) following the decision to postpone a rate hike, other components of the Oil & Gas index are up in positive territory with impressive gains.

Coal India tops the list of gainers in the Sensex. The Metal index component is up as much as 4.8% at Rs 326.80. Among other metal stocks in the Sensex, Tata Steel is up 4.3%, Sterlite Industries is trading higher by a little over 3.5% and Jindal Steel is up with a gain of 2.6%.

Banking sector heavyweights ICICI Bank (3%), State Bank of India (2.7%) and HDFC Bank (1.5%) are up with strong gains. IT majors Wipro (3.75%), Infosys (2.8%) and Tata Consultancy Services (2.3%) are also up sharply.

Tata Motors, DLF, Tata Power, Jaiprakash Associates, Larsen & Toubro, BHEL, Bharti Airtel, Maruti Suzuki, NTPC, Cipla, Reliance Industries, Hindustan Unilever, ITC, ONGC and HDFC are up 1% - 4%. Hero Motocorp and Sun Pharmaceuticals are also up with smart gains.

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Hindustan Copper, the top mover among BSE 'A' Group stocks, is up with a hefty gain of 10.5%. MMTC has gained almost 10%. Gujarat Fluorochemicals is up with a gain of 6.3%. Indiabulls Real Estate, Essar Oil, United Spirits, Alstom Projects, Bank of India, Rashtriya Chemicals & Fertilizers, Chambal Fertilizers, Kotak Bank, Central Bank of India , GMR Infrastructure and Engineers India are also up sharply.

Realty stocks DB Realty, Anant Raj Industries, Parsvnath Developers, HDIL, Unitech, Phoenix Mills, Sobha Developers and Prestige Estates are trading sharply higher.