 "Markets continue firm trades, L&T, RIL surge")
Markets surged in the noon trades on the back of buying in heavyweights like Reliance Industries, L&T, HDFC and Bharti Airtel. At 1235hrs, the Sensex was up 180 points at 19,576 and the Nifty gained 49 points to trade at 5,891.
In the broader markets, both the mid and smallcap indices gained over 1.5% each, outperforming the BSE benchmark index which was up marginally by 1%.
Indian factory activity remained weak in June as output contracted for the second month running and order books shrank for the first time in over four years, a survey showed on Monday. The HSBC Manufacturing Purchasing Managers' Index (PMI), compiled by Markit, edged up to 50.3 in June from 50.1 in May.
Asian equities edged lower on Monday, hurt by worries that the U.S. Federal Reserve could start scaling back its massive monetary stimulus in September, and signs of an economic slowdown in China.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3%, having last week posted a 2.8% rally, its biggest weekly gain since September 2012.
Tokyo's Nikkei share average rose 1.1% in choppy trade.
European stocks opened higher with CAC, DAX and FTSE gaining between 0.3-1%.
Back home, among the sectoral indices, IT and Teck indices were the only ones in the negative, losing 0.3-1%. Among the gaining ones were Realty index up nearly 4.5% followed by Capital Goods, Power, Metal, Oil & Gas, FMCG, PSU, Health Care and Bankex indices gained 1-2.7%.
The top gainers among the Sensex-30 were L&T, Sterlite, BHEL, Bharti Airtel, Relaince Industries, Jindal Steel, Tata Power, Tata Motors, Hero MotoCorp and Tata Steel up 2-3%.
SBI, Dr Reddys Lab, HDFC,Hindalco, NTPC and Cola India up 1-2% were the other notable gainers.
The only names in the red were IT heavyweights TCS and Infosys losing 1.6% and 1.4% respectively along with Bajaj Auto down 0.3%.
In individual names, Reliance Communications soared 7% to Rs 126 after the company it has completed full repayment of two syndicated external commercial borrowing loans of $500 million each, during the quarter ended June 30, 2013.
United Spirits rallied nearly 7% to Rs 2,318 after the foreign fund house Morgan Stanley Asia purchased nearly 1% stake in the company for an estimated Rs 229 crore through open market transaction.
L&T Finance Holdings was trading higher by 3% at Rs 81 after its board approved the company's proposal to apply to the RBl for a banking licence.
The market breadth was positive. 1,394 stocks advanced while 664 stocks declined on BSE.
In the broader markets, both the mid and smallcap indices gained over 1.5% each, outperforming the BSE benchmark index which was up marginally by 1%.
Indian factory activity remained weak in June as output contracted for the second month running and order books shrank for the first time in over four years, a survey showed on Monday. The HSBC Manufacturing Purchasing Managers' Index (PMI), compiled by Markit, edged up to 50.3 in June from 50.1 in May.
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The latest PMI showed inflationary pressures, which eased in the previous few months, have started to pick up again with input and output costs both rising in June.
Asian equities edged lower on Monday, hurt by worries that the U.S. Federal Reserve could start scaling back its massive monetary stimulus in September, and signs of an economic slowdown in China.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3%, having last week posted a 2.8% rally, its biggest weekly gain since September 2012.
Tokyo's Nikkei share average rose 1.1% in choppy trade.
European stocks opened higher with CAC, DAX and FTSE gaining between 0.3-1%.
Back home, among the sectoral indices, IT and Teck indices were the only ones in the negative, losing 0.3-1%. Among the gaining ones were Realty index up nearly 4.5% followed by Capital Goods, Power, Metal, Oil & Gas, FMCG, PSU, Health Care and Bankex indices gained 1-2.7%.
The top gainers among the Sensex-30 were L&T, Sterlite, BHEL, Bharti Airtel, Relaince Industries, Jindal Steel, Tata Power, Tata Motors, Hero MotoCorp and Tata Steel up 2-3%.
SBI, Dr Reddys Lab, HDFC,Hindalco, NTPC and Cola India up 1-2% were the other notable gainers.
The only names in the red were IT heavyweights TCS and Infosys losing 1.6% and 1.4% respectively along with Bajaj Auto down 0.3%.
In individual names, Reliance Communications soared 7% to Rs 126 after the company it has completed full repayment of two syndicated external commercial borrowing loans of $500 million each, during the quarter ended June 30, 2013.
United Spirits rallied nearly 7% to Rs 2,318 after the foreign fund house Morgan Stanley Asia purchased nearly 1% stake in the company for an estimated Rs 229 crore through open market transaction.
L&T Finance Holdings was trading higher by 3% at Rs 81 after its board approved the company's proposal to apply to the RBl for a banking licence.
The market breadth was positive. 1,394 stocks advanced while 664 stocks declined on BSE.