Firm trades continue, Sensex up 325pts

The markets continued to trade firm in the late-morning session as they took cues from positive global markets. The BSE Sensex is at 16,377, up 326 points and the S&P CNX Nifty is at 4,933, up 97 points.

The Asian markets are trading in the green with the Nikkei and the Hang Seng indices having gained nearly 2% each. The gaines are a result of expectations that the policy makers in Europe would support the Euro-zone financial system.

Among the sectoral indices, BSE Consumer Durables, Realty and Oil & Gas indices are leading the gains, having gained 2-3% each.

Rajesh Exports, VIP Industries, Gitanjali Gems and Whirlpool of India, up 3-10% each, are the major gainers from the Consumer Durables' sector.

Cairn India, Reliance Industries, Petronet LNG, Essar Oil and Indian Oil Corporation, up 1-3% each, are the prominent gainers from the Oil & Gas space.

On the Sensex, JP Associates has moved up 5% at Rs 72. Other prominent gainers include Tata Motors, DLF, Reliance Industries and ICICI Bank, up 3-4% each. In a remarkably positive environment, Sun Pharma Industries is the only loser, trading flat at Rs 466.

Among individual stocks, GMR Infrastructure is trading higher by 2% at Rs 27.55 on reports that the company has agreed to sell a 30% stake in GMR Energy (Singapore) or GMRE, to Petronas International Corporation, an arm of Malaysian state-run oil firm Petronas, subject to approval of lenders.

Bharat Earth Movers Limited (BEML) is trading higher by 5% at Rs 470 after the company said that it has bagged orders worth of Rs 230 crore for its mining equipment post after market hours on Monday.

The overall market breadth is positive as 1,712 stocks have advanced against 585 declining ones on the BSE.