Markets extend gains

Markets are trading firm in the noon deals, the Sensex has added 93 points and is at 19,785 and S&P CNX Nifty is at 5962 up 27 points.

Mahindra & Mahidra continues to lead the rally among the Sensex stocks, the stock is trading at Rs 790 up 4%, Tata Motors, index heavyweight Reliance Industries, DLF and Bharti Airtel are also among the gainers up up more than 1.5% each. HDFC, L&T, Wipro and TCS are among the losers down more than 1% each.

Heavy buying is visible in Auto stocks the Auto index has added 190 points at 10,301 followed by Consumer Durables, Oil & Gas and Realty indices up more tha 1% each. While Capital Goods and IT stocks continue to witness the selling pressure.

Mahindra & Mahindra, Apollo Tyre, Tata Motora, Ashok Leyland and Maruti Suzuki are the top gainers among the Auto stocks trading higher by more than 1.3% each.

Meanwhile, the broader markets are also trading higher, the BSE small-cap index has added 137 points at 10,347 and the mid-cap index is at 8163 up 70 points. Ther BSE 500 market breadth is also positive as 391 stocks are advancing while 102 stocks are declining.

MSK Projects is the top gainer among the small-cap stocks trading at Rs 123 up 11.4% followed by Splash Media, Atlanta and Hindustan Organic Chemicals up more than 9% each. While TVS Motors, Gujarat Flurochemicals, Great Offshore, MVL, and Videocon Industries are among the mid-cap gainers.

The overall market breadth is extremely positive as 1945 stocks are declining while 785 stocks are advancing.