Markets join Asian rally

Markets touch fresh 33-month high once again following strong cues from Asia and surging fund flows. The Sensex has risen 150 points to 20,595 and the Nfity is up 69 points at 6191.

Markets across Asia are trading in the green on back of jump in Hong Kong's property shares pulling the Hang Seng index is up 1.47% , and shrugging off government moves to cool down property prices. However, Japan ended the day in red,  Nikkei 225 bucked the trend, was down 0.4% , there are speculations that Bank Of Japan will ease the monetary policy further this week. China's Shanghai Composite has risen 1.7% on back of gains in ship builders, Seoul Composite and Taiwan Weighted are up 0.2% and 0.02% each.

In India, markets continue to rise higher on back of  fund flows. FII inflows clocked a record of $5 billionn, the highest ever since October 2007. S. Ramesh Kumar, Senior Vice-President, Asit C. Mehta Investment Intermediaries said, "globally, money flows where there are attractive returns, and the FIIs investing their money in India for high yields and returns purely from an opportunistic perspective."

Broader markets are also leading the gains also, midcap and smallcap indices are up 0.5% each.

BSE Consumer Durables, up 1.3% and Auto index, up 1.1% are riding high on India's consumption story.

From the auto pack, Mahindra & Mahindra is leading the gains, up 3.3%, follwed by Tata Motors, up 1.7%, Ashok Leyland, up 1.7% and Bajaj Auto, up 1.4%.

VIP Industries, up 13%, followed by Whirpool, up 4% and Rajest Exports, up 3.7% are top gainers in consumer Durables pack.

Besides Mahindra & Mahindra, JP Associates, up 2.4% and ICICI Bank, up 2.9% are the top gainers on the Sensex.

Only 8 components on Sensex are trading in the red, profit booking continues in Sterlite Industries, down 2%, Hero Honda and Bharti Airtel also marginally in the red.

Market breadth is positive, 1626 stocks are advancing for 1226 declining stocks.