Markets continue firm trades. The Sensex gained 206 points at 19,327. Nifty was up 60 points at 5,796.
BSE realty and auto indices were up 1-2% each. However, FMCG stocks dipped into red.
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(Updated at 1154 hrs)
The benchmark indices are having an unabated run for the seventh consecutive session thanks to the positive cues from the global market front and cooling in global crude oil prices. Capping its sharpest 7-day rally in the last twenty two month, the Sensex has advanced 165 points to touch a 9-week high of 19,287, and the Nifty has gained 47 points at 5,784. The midcap index is at 6821, higher by 69 points and the smallcap index is at 8131, up 149 points.
Oil has declined from recent 2-1/2-year high as signs of rising US crude supplies stoked speculation that demand may falter in the world's biggest consumer of the commodity. US crude futures were down 43 cents a barrel or 0.41% to $104.36 a barrel. The oil prices have climbed 23% since anti-government protests began in Libya on February 15.
Asian stocks are trading higher as Japanese companies have resumed production following the earthquake. Hang Seng have spurted in the region of about 2% each, while Taiwanese, South Korean and Singaporean indices have adde dupto a percent each. The US markets had ended higher buoyed by rally in telecom and energy stocks, on speculation of an economic recovery.
The leading gainers on the Sensex are M&M (stronger by 3.2% at Rs 708), followed by Jaiprakash Associates (higher by 2.6% at Rs 90) and Cipla (up 2.3% at Rs 319). Realty stocks are also seeing action; DB Realty has spurted by 17.1% at Rs 116, while Unitech has gained 2.6% at Rs 40 and DLF has added 2% at Rs 258.
Bharti Airtel is the sole loser, shedding 0.4% at Rs 357.
The market breadth is positive; 1932 stocks have advanced for 622 declines.