The market, which opened on a buoyant note this morning, has moved further up north in style with key stocks from banking, metal, realty and automobile sectors posting strong gains on sustained buying support.
Oil, PSU, consumer durables, power and healthcare stocks are also mostly trading higher. Select capital goods and FMCG stocks are trading firm. Information technology stocks have edged higher after a subdued start.
Among the stocks in the BSE Bankex, heavyweights ICICI Bank (3.2%), HDFC Bank (2.5%) and State Bank of India (3%) are up sharply. Axis Bank, Bank of India, Bank of Baroda, Canara Bank, Federal Bank, IndusInd Bank, Punjab National Bank, Union Bank of India and Yes Bank are all trading firm, gaining 2% - 5%.
Automobile stocks Hero Motocorp (1.8%), Mahindra & Mahindra (2.3%), Maruti Suzuki (2.2%), Tata Motors (2%) and Ashok Leyland (2%) are trading firm. Bajaj Auto, however, is trading weak, losing about 0.2%.
Thanks to a strong rupee and a decline in crud oil prices, shares of state run oil marketing firms Hindustan Petroleum Corporation, BPCL and Indian Oil Corporation moved higher this morning. While HPCL and BPCL gained over 1.5% each, Indian Oil Corporation surged up nearly 1%.