The markets have build on their gains in the past one hour. Riding on the back of a strong closing on Wall Street and firmness across the Asian Street, the markets had a dynamic opening for the second consective day and have taken it further from thereon. The Sensex is quoting at 17832, higher by 180 points and the Nifty is at 5348, up 51 points.
Telecom stocks are in the thick of action on reports that the Department of Telecommunications (DoT) has decided to set up an internal committee to look into mobile firms' concerns over the Telecom Regulatory Authority of India's (Trai) proposals, including levying a one-time fee on 2G radio spectrum.
Idea Cellular is the largest gainer in the telecom pack, having zoomed almost 8% to Rs 63.55. Bharti Airtel has soared 5% at Rs 295.85, while Reliance Communications and Tata Teleservices (Maharashtra) are up 2% each at Rs 192 and Rs 22.40, respectively on the BSE. HDFC Bank, DLF and Infosys are the other significant gainers.
There are no losers among the Sensex-50 scrips.
The market breadth is positive. Out of 2349 stocks traded on the BSE, there are 1683 advancing stocks as against 585 declines.