Markets at days high

Banks, metals and realty shares gain

Markets have surged in afternoon trades on the back of realty, bank and metal shares. The Sensex, after opening at 19,302 has surged 194 points to 19449. Nifty is at the day's high of 5,912 - up 57 points.

"From past few sessions, Nifty is consolidating in the range of 5950-5820 with positive bias. Any breakout above/below can be the decisive move for the market. If we get the breakout of 5950, then only further upside can be expected till 6100 for near term. Any closing below 5820 may attract panic selling upto 5700-5650 for near term," said Mudit Goyal, technical analyst, SMC Global.

Asian stocks rose on reports that US President Barack Obama plans to return early from his annual vacation to Hawaii in order to take part in talks to avert the fiscal cliff of austerity measures due to take effect at the start of the year. Nikkei has jumped 1.5% at 10,230. Shanghai Composite and Hang Seng were up marginally.

The market may remain volatile in the immediate future as traders roll over positions in the futures & options segment from December 2012 to January 2013 series on Thursday.

BSE realty index has jumped 1.6% to 2,101. Capital goods, bankex and metal shares are up around 1.5% each. However, the only sector which traded in red was IT - down 0.11% at 5666.

Bharti Airtel has added 2.5% to Rs 317. Sun Pharma is up 2.3%, followed by Bajaj Auto, Sterlite and Jindal Steel. Banking shares - ICICI Bank and SBI are up 2% each. Market heavyweight, Reliance is up 1.7% at Rs 834.

On the other hand, Hindustan Unilever is down 1.2% at Rs 524. Hero MotoCorp, Wipro and Infosys are down half a per cent each.

Tata Steel rose 0.27%. The company said some contract workers and the company's security personnel clashed at its factory in Jamshedpur town on Monday.

Cigarette maker ITC was down 0.28% to Rs 286.20. The Ministry of Health and Family Welfare in October 2012 notified new pictorial health warnings to be depicted on tobacco product packs which will come into effect from 1 April 2013.

BSE market breadth was positive. Out of 2,728 stocks traded, 1,472 shares have advanced while 1,117 have declined.