Markets momentum continues to remain strong after a gap up opening. At 10.35 am, the Sensex was up 235 points at 16,874 and the Nifty gained 79 points at 5,122.
Broader markets advanced with both the midcap and the smallcap indices up 1% each almost in line with the Sensex.
Bankex and Metal indices up over 2% each continues to lead gains followed by Realty, Power, Capital Goods and Consumer Durables up 1% each.
Among the top gainers in the Sensex pack were Tata Motors, Tata Steel and Hindalco up 4-5%.ICICI Bank and Sterlite added 3.5% each.
The only losers among the Sensex stocks were auto stocks like Hero MotoCorp down 1.5% and Bajaj Auto marginally slipping by 0.2% along with Dr Reddys Lab which lost 0.3%
Among other stocks, Sun TV Network and SpiceJet tanked 32% and 6% on the bourses on reports that the Central Bureau of Investigation has questioned the Maran Brothers in Aircel-Maxis deal case.
Shares of Goldyne Technoserve and Amar Remedies were locked at lower circuit filter for the second day in a row on buzz of margin calls from certain large brokerages and redemption by some small-cap global funds.
_________________
(Updated at 9:30 am)
The markets had a gap up opening on the first day of the August F&O series tracking strong global cues. The Sensex gained 266 points at 16,902 and the Nifty gained 83 points at 5,126. Banks, Infosys and Reliance Industries were the major gainers, contributing to nearly 50 points gain.
The broader markets too started off in the green with the midcap index up 1% and the smallcap index added 0.8%, both underperforming the Sensex which shot up nearly 1.5%.
The rupee rose in opening trade on Friday, extending gains for a second successive session, as Asian stocks rose and the euro steadied on hopes the European Central Bank will take all steps needed to protect the euro zone.At 9:03 a.m., the rupee was at 55.49/51 to the dollar versus its last close of 55.52/53.
Overnight, in the international markets, US stocks rallied on a wave of hope inspired by comments from European Central Bank President Mario Draghi on Thursday. The Dow Jones industrial average and the S&P 500 Index gained 1.7 per cent each.
A rub-off effect was visible across Asian markets on Friday. KOSPI moved up 1.5 per cent, with gains led by Samsung's earnings report.
Back home, the Nifty is expected to take face around 5,104 and head lower till 5,000 levels in the short-term, technical analysts say.
All the sectoral indices opened in the green. Bankex, Capital Goods and Metal indices advanced 2% each. Auto, Power, Consumer Durables and FMCG indices up 1.4-1.7% were the other notable gainers.
Health Care index up 0.5% was the only index which saw a weak opening. From this space, Sun Pharma started down 0.5% and was the only loser among the Sensex stocks.
29 of the 30 Sensex stocks started the day in the green. Tata Motors, ICICI Bank, Sterlite, Tata Steel, Hindalco, SBI and L&T up 2-3% were the major gainers.
Among other stocks, ACC was up 3% at Rs 1,299 on reporting 26% year-on-year growth in consolidated net profit at Rs 415 crore for the second quarter ended June 2012, on the back of higher sales volumes.
The market breadth was very positive. 860 stocks advanced while 233 stocks declined on the BSE.