Markets trade firm

Markets continue to trade on a firm note. The Sensex stands still at 20,369, up 336 points due to a technical glitch at the BSE. Trading is likely to resume at 1330 hrs, as per TV channels.

Meanwhile, the NSE Nifty is up 108 points at 6126.
_________________________________________________
(Updated at 1200 hrs)

Led by sharp gains in rate sensitives like banks and realty, the markets continue to trade firm. However, the main trigger for today's up move remains strong corporate results - mainly from heavweights Reliance and ICICI Bank.

The Sensex has now touched a high of 20,398. ICICI Bank has contributed over 100 points in the benchmark's upmove. The Sensex is now up 336 points at 20,368.

The Nifty is up 98 points at 6,116.

A jump in India's manufacturing index, supported by strong output and a sharp rise in new business, have also buoyed investor sentiments. The HSBC Markit PMI, based on a survey of 500 companies, rose to 57.2 in October from 55.1 in September and 57.2 in August.

Realty index has gained on hopes of higher sales in the festive season. Realty index has jumped 2.5% to 3,725.

Jaiprakash Associates is the big realty gainer - up 4% at Rs 125, in spite of its 87% dip in Q2 net. The net profit of the company stood at Rs 115.52 crore in the second quarter ended September 30, as against Rs 870.19 crore in the same period a year ago.

Bankex is up 3% at 14,446. All other sectoral indices are also in green.

ICICI Bank has jumped 6% to Rs 1,233 following its strong performance in Q2.

HDFC Bank, DLF, Hindalco and Cipla have added around 2% each. Other gainers include Bharti Airtel, HDFC and Tata Steel.

Meanwhile, Maruti Suzuki has slipped 2.4% to 1,513. The company has just reported its highest ever monthly sales at 1,18,908 units in October, registering a robust 39% jump from the year ago period.

Hero Honda continues to trade soft at Rs 1,830 - down 2%.

Advances continue to outnumber declines on the BSE. Out of 2,739 stocks traded, 1,843 have advanced while 820 have declined.