The markets are going strong for the fourth consecutive session on the back of favourable cues from the global front. The Sensex is quoting at 18675, stronger by 324 points and the Nifty has surpassed the technical resistance of 5600 and is now at 5615, up 93 points. The midcap index is at 6713, higher by 58 points and the smallcap index is at 8001, up 80 points.
Wall Street had another good session overnight, the sentiment rubbed on to the Asian Street and India dutifully latched on to the optimistic mood. All the Asian markets are trading higher by more than a percent towards the closing hours of trade and the European bourses have also started their day's proceedings on a robust note by registering gains of upto half a percent each.
The information technology space is in action in today's session after a period of quiet consolidation. The BSE IT index is leading the gains, with Infosys strengthening by 4.1% at Rs 3130, Wipro gaining 3.4% at Rs 454 and TCS adding 2.4% at Rs 1120.
The banking space is also looking good, with ICICI Bank jumping by 2.6% at Rs 1081, HDFC Bank gaining by 2.2% at Rs 2241 and HDFC adding 1.8% at Rs 655.
There are no losers among the BSE-30 scripts.
The market breadth is positive. Out of 2929 stocks traded on the BSE, there are 1691 gaining stocks as against 1116 declines.