 "Markets consolidate gains; Financials and auto rise")
Global risk-appetite was also firm after Janet Yellen, the Federal Reserve's vice chair, said on Monday that US central bank's aggressive monetary stimulus is warranted given how far the economy was operating below its full potential. Her comments helped support investor sentiment.
At 11:25AM, the Bombay Stock Exchange's Sensex was up 110 points at 18,988 while the National Stock Exchange's Nifty gained 33 points at 5,733.
Asian markets traded higher with China's Shanghai Composite Index gaining 1% to 2,293 , Singapore's Straits Times added 0.3% to 3,247 , Hong Kong's Hang Seng rose 0.02% to 22,542 while Japan's Nikkei gained 0.3% to 11,698.
Back home, among sectors, barring PSU, capital goods and consumer durables , rest all gained with, real-estate, IT,autos, healthcare, bankex leading the gains on BSE.
Among individual stocks, Tata Motors and Maruti Suzuki gained 3% and 2% respectively, ICICI Bank rose 2%, Reliance Industries added 2%, Jindal Steel & Hindalco rose 1% each, HUL up 0.8% on BSE.
The laggards included, Bajaj Auto dropping 2%, Bharti Airtel declining 1%, SBI down 0.3%, Hero MotoCorp declined 0.3% while HDFC Bank shed 0.4% on BSE.
Among other notable movers, MMTC has tanked 7.3% to Rs 342, extending its previous day’s 9.3% fall on BSE, on reports that the government is planning to offload its 9.33% stake in the company through offer for sale (OFS) route next week.
Tata Motors is trading higher by 3% to Rs 297 on reports that the company has slashed the prices of its Indica and Manza range of passenger cars by up to Rs 50,000 in order to prevent falling sales in recent months.
The broader markets traded gained with mid-caps and small- caps rising nearly 0.3% on BSE.
The market breadth was firm. Out of 1,647 stocks traded , 1,043 stocks advanced compared to 530 declined on BSE.