With several blue chip stocks trading firm and holding their gain thanks to sustained buying support, the market remains high up in positive territory and looks headed for another bright close today.
At 18,765, the Sensex is now up 203.30 points or 1.1% from its previous closing mark. The Nifty is up 56 points or nearly 1% at 5701.
Asian markets mostly ended on a firm note. European markets, however, are trading weak with investors treading cautiously ahead of some crucial economic data.
The mood on the Indian bourses is quite upbeat thanks to impressive sales data from leading automobile manufacturers. Sustained inflow of funds from FIIs and some impressive results from India Inc are also contributing to the market's positive display today.
GAIL India is up nearly 4% on strong buying at the counter. Bajaj Auto is up almost 3%. Larsen & Toubro, Lupin, Sesa Goa, Mahindra & Mahindra and Hero Motocorp are trading higher by 2% - 2.8%. State Bank of India, ICICI Bank and Wipro are also up sharply.
Among the blue chips that are trading weak, Bharti Airtel is down 2.2%, Jindal Steel is down with a loss of 1% and Hindustan Unilever is trading nearly a percent down. Sun Pharmaceutical Industries, Jaiprakash Associates and BPCL are down 0.4% - 0.6%.
Junior Nifty stock Union Bank of India has gained nearly 8% thanks to buoyant results. Canara Bank is up 4.8%. Petronet LNG, GSK Consumer Healthcare, Adani Ports, Reliance Power, Ashok Leyland, SAIL, IDBI Bank and Power Finance Corporation are also trading sharply higher.