After a rather sedate start the markets has picked up momentum thanks to fresh buying in the banking stocks. The banking stocks have jumped in the last few minutes on reports that the Cabinet has cleared the PSU capital infusion plan.
The BSE Bankex is the top gainer, up 1.4% at 11,046. Private banking major - ICICI Bank leads the list with a near 2% gain at Rs 961. SBI has advanced 1.3% to Rs 2,252, and HDFC Bank has added 0.8% to Rs 1,950.
Meanwhile, the Sensex touched a high of 17,726, and is now up 130 points at 17,704. The NSE Nifty is up 36 points at 5,306.
Among the other Sensex stocks - DLF, Reliance and Larsen & Toubro have moved up 1.6% each to Rs 331, Rs 1,093 and Rs 1,597, respectively. Infosys, Grasim, BHEL and Hindustan Unilever are the other prominent gainers.
Wipro, however, has pared all its gains and trades flat at Rs 704.
Hero Honda and Sun Pharma, however, have slipped over 1% each to Rs 1,889 and Rs 1,693, respectively. ACC, Sterlite and Tata Steel are the other notable losers.
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