The markets closed higher for the second consecutive day with the Sensex closing with a gain of 111 points at 18,614 and the Nifty added 32 points to end at 5,592.
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(Updated at 1435 hrs)
The markets continue to trade in the positive with the Sensex up 62 points at 18,565 while the Nifty has added 17 points at 5,578 in the afternoon trades. Meanwhile, the broader markets are having a good run with both the smallcap (up 0.8%) and the midcap (up 0.6%) indices outperforming the BSE benchmark index, Sensex (up 0.3%)
The benchmark indices had a stupendous run in the previous session as lower GDP growth in March eased fears of a hawkish stance by the Reserve Bank at its policy meet scheduled next month and continued the good work this morning as Greece hopes had buoyed Wall Street in overnight trades. While the markets have surrendered half of their morning gains on profit-booking and resistance around the technically crucial 5600 levels (on the Nifty), they still have a confident look about them.
Among the BSE sectoral indices, Capital Goods continue to lead the gains up 1% followed by Teck and Power indices adding between 0.7-0.9%. On the other hand, Consumer Durables, Realty and Oil & Gas indices are dragging the markets lower. These indices have trading down in the range of 0.5-0.6%
Among the top Sensex gainers in the afternoon trades are Reliance Communication up 4% followed by NTPC, Bharti Airtel, L&T, Reliance Infrastructure, Maruti Suzuki and SBI gaining 1-3%.
Realty major DLF, Tata Steel, Tata Motors and Bajaj Auto down 1% each are the top losers on the Sensex.
The market breadth is positive. Of the total 2859 stocks traded on the BSE, 1679 stocks have advanced while 1060 have declined.