Markets gain on metal stocks

Markets continue to hold firm this morning as Asian bourses gain.

The Sensex after opening at 17,654 touched a high of 17,878. The index is now up 305 points at 17,875.

The Nifty is up 88 points at 5,351.

Metal index has extended gains and is up 3.6% at 15,368. Bankex, realty and auto indices have gained 1.6% each in morning trades. All other sectoral indices are in green.

Metal stocks continue to lead the gainer's list on hopes of Sterlite has soared 7% to Rs 182. Tata Steel and Hindalco are up 4% each.

ICICI Bank has jumped 3.2% to Rs 895. Tata Motors, Mahindra & Mahindra and HDFC have gained 2.4% each.

Tata Power has added 2.2% at Rs 1,297. Jaiprakash Associates, DLF, L&T and Jindal Steel are the other top gainers in teh market today.

ITC, TCS and Infosys have also gained.

The BSE market breadth is positive. Out of 2423 stocks traded, 1,801 have advanced while 537 have declined.