Market move higher; metals lead

The markets continue to move higher with the Sensex registering an intra-day high of 20,183 and continues to hover around the same. The Nifty too has gained 54 points and is tarding at 6,047.

Among the sectoral indices, Metal index, up 2.5% continues to move higher followed by Realty, Consumer Durables and Capital Goods gaining 1% each. FMCG continues to tarde in the negative, down 0.1%. Bankex index is on a slippery ground at 0.06%, paring some of its initial gains.The movers in the metal space are Welspun up nearly 7% followed by Tata Steel, JSW Steel,Hindalco and Jindal Steel adding 3% each.

Apart from the metal scrips, the gainers on the sensex are Tata Motors up 3%, Jaiprakash Associates, DLF and Reliance Communications gaining 2% each.Market heavyweight Reliance has moved up nearly 1.8%

Hero Honda down 2% continues to be the top loser on the sensex on reports that Honda Motor has reached a basic agreement to dissolve its partnership in Hero Honda Motors. ITC down nearly 1%, ICICI Bank and SBI shedding 0.6% and 0.4% each respectively are the only other losers on the Sensex.

The market breadth is positive. 1816 stocks have advanced while 665 have declined.