Markets extend gains

Markets have extended gains in late morning trades. The Sensex is up 332 points at the day's high of 17,903. The Nifty is up 96 points at 5,358.

The BSE metal index continues to show smart gains. The index is up 4.5% at 15,484.

Sterlite is the biggest gainer among metal stocks and have surged nearly 9% today to Rs 185. Sesa Goa and Tata Steel have added 5% each to Rs 372 and Rs 498.

Hindalco, JSW Steel, Hindustan Zinc and SAIL are up around 4% each.

Among Sensex stocks, ICICI Bank has added 3.5% to Rs 897. HDFC, Mahindra & Mahindra, Larsen & Toubro and Tata Motors have advanced 2-3% each.

Power stocks- Tata Power and NTPC are up 1-2% each.

The BSE market breadth is extremely positive. Out of 2,712 stocks traded, 1,926 have advanced while 684 have declined.