Markets near day's high, RIL & Infy lead

Markets have reached near day’s high on significant buying among index heavyweights like Infosys and RIL. Asian markets too are supporting the upmove. 

The Sensex and the Nifty are trading above 15,800 mark and 4,700 levels, respectively.

By 1130, the Sensex was up 291 points at 15,809 and the Nifty gained 87 points to 4,724.

BSE metal index has zoomed by 3%. Coal India, Tata Steel, Sterlite, Jindal Steel and Hindalco have surged between 2-5%. Coal India is the top Sensex gainer, up 5% on the news that the company entered into a new pricing policy, effective today.

In the financial segment, ICICI Bank and SBI have spurted by nearly 3%. HDFC Bank and HDFC have risen rose 1% each. BSE Bankex has surged 3%.

DLF from the realty space has jumped 3% on reports that China-based conglomerate, HNA, has shown interest in Aman Resorts, the company’s biggest non-core asset.

Index heavyweight like RIL has gained between 2%. A unit of Reliance Industries (RIL) plans to invest more than Rs 1,500 crore in media group TV18's two main companies through proposed rights issues, a business daily reported. ONGC is 1% up.

Software majors like Infosys, TCS and Wipro have gained between 2-4%.

Amongst capital goods segment, L&T and BHEL have spurted between 2-3%. Larsen and Toubro (L&T) has extended yesterday’s gains after the engineering and construction major said it has bagged orders worth Rs 2,056 crore.

FMCG majors like ITC and HUL have moved up between 1-2%.

Tata Motors has accelerated by 4% after reporting its highest ever total vehicle sales in past nine months, during the month of December 2011. However, Bajaj Auto and M&M are on the losing side, declining by almost 1% each.

The BSE mid-cap Index and the small-cap indices too are witnessing strong buying demand, both jumping by nearly 2% each.

Shares of oil marketing companies have lost ground after postponement of hike in petrol prices. BPCL, HPCL and IOC have slipped 1.5-2%.

Amongst other shares, Network 18 has shot up 11% as sources reports that Reliance will invest Rs 1,500 crore in TV18 group.

Other media stocks like NDTV and Deccan Chronicle have risen between 3-5%.

Ashok Leyland has gained 3% as the company reported a rise of 28% in total sales for December at 9088 units as compared to previous month.

The overall market breadth remains firm.