The markets have recovered from the intra-day low levels and are trading at the day's high, the fresh buying in the market is triggered by the better than expected GDP numbers anounced by the government.
The Sensex is now up 100 points at 19,505 and the Nifty is higher by 31 points at 5861.
The GDP for the April-June quarter came in at 8.9% compared to 8.7% in the same period previous year, due to good performance by the manufacturing and farm sector.
The manufacturing sector growth came in at 9.8% versus 8.4% in the previous year. The Services sector growth stood at 9.8%. Buoyed by the good monsoons this year the farm sector grew by 4.4% compared to 0.9% in the previous year.
Meanwhile, DLF leads the Sensex gainers charts the stock is trading at Rs 301 up more than 5%, Bharti Airtel, Tata Motors, Jindal Steel and Jaiprakash Associates are the other gainers on the BSE 30 share index. Tata Steel is the top loser among the Sensex stocks down more than 1.5% at Rs 582 followed by L&T, Sterlite Industries, ACC and Hindustan Unilever down more than 1% each.
The real estate stocks which witnessed sell offs in large quantities previous week are witnessing fresh buying the BSE Realty index is higher by more than 4% or 120 points at 2889. BSE Power index, PSU and Bankex are higher by more than 0.6%. Selling pressure is visible in Metal, Oil & Gas, FMCG and Capital Goods stocks. The BSE Metal index is the top loser among the sectoral pack down 74 points at 15,482, Oil & Gas and FMCG indices are lower by more than 0.3% each.
Indiabulls Real Estate, Sobha Developers, D B Realty, Orbit Corp and DLF are amopng the top gainers among the realty stocks, up more than 5% each.
Tata Steel, JSW Steel, Sterlite Industries and SAIL are the top losers among the metal stocks, down more than 1.5% each.
The broader markets are trading higher, the small-cap index has added 94 points at 9567 and the mid-cap index is at 7717 up 60 points.
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