Markets ended 1.7% higher on Wednesday led by engineering major L&T along with bank and software shares.
The 30-share Sensex ended up 286 points or 1.7% at 17,602 and the 50-share Nifty ended up 90 points or 1.7% at 5,365.
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(Updated at 14:37pm)
Markets continue to trade on a strong note in the late noon deals on the back of buying visible in the capital goods, realty IT and banking stocks. The positive opening by European markets have also boosted the market sentiment. The Sensex has jumped 276 points to 17,593 and the Nifty is up 77 points at 5,352 levels.
According to Somil Mehta, Sr. Technical Analyst (Equity) at Sharekhan, "Medium term trend for the markets remains positive but in the short term Nifty seems to be in a range of 5,400 and 5,200 levels, break on either side will determine the trend going forward."
The other Asian markets ended the day on a subdued note Hang Seng and Nikkei ended with marginal losses while Shanghai and Taiwan closed with modest gains.
Meawhile, the European markets have opened higher. CAC 40 index is up 32 points at 3,562, DAX has advanced 50 points to 7,105 and the FTSE is at 5,913, up 22 points.
Back home, capital goods, realty, IT and banking stocks are on the investors radar. The Capital Goods index has surged 3.3% or 335 points to 10,366. Suzlon Energu is the top gainer from this space, up nearly 5% to Rs 29. L&T, Crompton Greaves, Punj Lloyd, Siemens, BHEL, Thermax, Alstom Projects and Praj Industries are also trading higher by 2-4% each.
The realty index has also jumped 2.6% to 1,823 levels. From this space HDIL is the top gainer, up 8% to Rs 102. Anant raj Industries, Unitech, DLF, Phoenix Mills and Godrej Properties are also trading higher.
IT, Bankex, Power, PSU, Metal, Auto and Healthcare indices have jumped 1-2.2% each.
Among the Sensex stocks, L&T is the top gainer. It is followed by TCS, DLF, Tata Steel, ICICI Bank, Bharti Airtel, BHEL, SBI, Bajaj Auto, HUL and Mahindra & Mahindra, up 2-3.5% each.
On the other hand, Hindalco, Jindal Steel, ITC and Sun Pharma are among the notable losers.
The mid-cap and small-cap indices have also added over 1% each.
The overall breadth is positive as 1,672 stocks are advancing while 1,114 are declining.