Markets continue to remain in an uptrend in late morning trades, amid strong cues from Asian markets, led by financial shares. The Sensex is up 155 points at 18,864. Nifty has jumped 44 points at 5,719.
In Asia markets rose on Tuesday but were capped by concerns over global growth prospects, especially in the world's second-biggest economy China, and expected weak U.S. corporate earnings. The Hang Seng was up 1% at 21,058, Shanghai Composite advanced 2% to 2,116 while Nikkei, Taiwan and Kospi slipped in trades.
The IMF cut its global growth forecast on Tuesday for the second time since April and warned U.S. and European policymakers that failure to fix their economic ills would prolong the slump.
Meanwhile, the rupee appreciated by 40 paise to 52.24 against the US dollar in early trade at the Interbank Foreign Exchange on selling of the American currency by exporters and banks.
Broader markets gained in line with the benchmark index. BSE mid and small-cap uindices were up 0.8% each in trades.
All the sectoral indices traded in the positive zone today. BSE healthcare index added 1.4% to 7,621. Capital goods, metal, consumer durables and bankex advanced 1% each.
Larsen & Toubro was the biggest gainer among Sensex stocks - up 2% at Rs 1,630. Tata Power, Dr Reddy's, Sun Pharm and Jindal Steel added around 2% each. ICICI Bank was the top mover - accounting for a 23 point jump on the Sensex. HDFC Bank, ITC and Infosys also contributed to the upmove.
However, Bajaj Auto slipped 1.6% to Rs 1,721. Bharti Airtel, Wipro and BHEL slipped 0.5-1% each.
Among individual stocks, Aban Offshore jumped 2% at 473 on reports that the company has received an order worth 800 core from Petronas Carigali Sdn.
IVRCL was up 5% at 47.75 after the Essel Group sold an additional 1.5% stake in the company for a little over 20 crore.
Zee News has surged 3% in trades despite an announcement that the stock would be shifted to the T group on both Bombay Stock Exchange and National Stock Exchange. This follows a surveillance review where the exchanges identified various scrips for restricted trading category.
BSE market breadth is positive. Out of 2,477 stocks traded, 1,519 shares have advanced while 851 shares have declined.
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