Markets extended gains for the second straight day on Tuesday to end over 2% higher led by metal and capital goods shares.
The 30-share Sensex ended at 15,924 up 406 points and the 50-share Nifty ended at 4,765 up 129 points.
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Updated at 14:30hrs
Markets have extended their gains with the Sensex and the Nifty crossing 15,900 mark and 4,750 levels, respectively. Firm global markets and broadbased buying amongst index heavyweights like Infosys, RIL are leading the firm rally.
By 1430, the Sensex was up 351 points at 15,869 and the Nifty surged 105 points to 4,742.
On the global front, Asian markets are trading firm with Hang Seng, Taiwan Index, Strait Times and Kospi gaining between 1-3%. European markets have opened positive. FTSE and DAX have gained 1% whereas CAC is trading marginally down.
Back home, BSE metal and capital goods indices are leading the rally, both jumping by 4% each.
From the metal space, Coal India and Jindal Steel have surged by 5%. Coal India is up 5% on the news that the company entered into a new pricing policy, effective today. Sterlite and Hindalco have gained by nearly 3% each.
Among capital goods pack, L&T has gained 5% after the engineering and construction major said it has bagged orders worth Rs 2,056 crore. BHEL has increased by 3.5%.
DLF is the top Sensex gainer from the realty space, up by 5% on reports that China-based conglomerate, HNA, has shown interest in Aman Resorts, the company’s biggest non-core asset.
In the financial space, ICICI Bank, SBI, HDFC Bank and HDFC have surged between 1-4%.
Index heavyweight Reliance Inds has gained by 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.
From the technology pack, Wipro has spurted by nearly 4%. Infosys and TCS has jumped by almost 2% each.
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 between 1-2%.
Meanwhile, the BSE mid-cap and small-cap indices are also witnessing strong demand, both gaining by almost 2% each.
Network 18 has shot up 18% as sources reports that Reliance will invest Rs 1,500 crore in TV18 group.
Oil marketing companies like Indian Oil, BPCL and HPCL are under pressure on the bourses trading lower by 2% each on reports that the government has not given a clearance to these companies for hiking petrol prices.
Ashok Leyland has gained 4% as the company reported a rise of 28% in total sales for December at 9088 units as compared to previous month.
The overall breadth is extremely positive as 1,876 stocks are advancing while 724 are declining.