)
Risk appetite was also bullish after US service-industry growth gained momentum and amid speculation that the US Federal Reserve will continue its accomodative monetary policy stance taking Dow Jones Industrial Average index to record-high on Tuesday.
At 11:30AM, the Bombay Stock Exchange's Sensex gained 70 points at 19,205.42 while the National Stock Exchange's Nifty added 17 points at 5,801.40.
Asian markets traded higher with China's Shanghai Composite Index gaining 0.68% to 2,342 , Singapore's Straits Times added 0.8% to 3,271 , Hong Kong's Hang Seng rose 0.8% to 22,740 while Japan's Nikkei gained 1% to 11,838.
Back home, among sectors, real-estate, metals, capital goods, autos, bankex led gains while FMCG declined on BSE.
Among the individual stocks, gainers included Larsen & Toubro and BHEL rising over 2.6% and 1.5% respectively, Wipro and Infosys were up 2% and 1% respectively, Tata Motors gained 2%, Reliance Industries added 1% on BSE.
The laggards were GAIL fell 1%, HUL and ITC declining 0.5%-1% respectively, Cipla and Dr Reddy’s shed nearly 0.5%, Mahindra & Mahindra dropped over 1% on BSE.
Among other notable movers, Shares of real estate companies have rallied up to 14% on back of heavy volumes on hopes that cooling inflation will force the Reserve Bank of India (RBI) to cut the repo rate at its policy meeting later this month.
Housing Development and Infrastructure (HDIL), Sobha Developers, Oberoi Realty, Indiabulls Real Estate, Peninsula Land, Anant Raj Industries and DB Realty have rallied more than 5% each on the Bombay Stock Exchange (BSE).
AstraZeneca Pharma India has dipped almost 10% to Rs 751, also its 52-week low on BSE after the multinational pharmaceutical company said that its promoter AstraZeneca Pharmaceuticals AB Sweden has decided to reduce its shareholding in the company to meet minimum public shareholding norm.
Uttam Galva Steels is locked in upper circuit of 5% at Rs 72.55 with no sellers on the counter after the company said it planning to raise about Rs 175 crore through placement of shares to fund expansion and augment long term-resources.
The broader markets gained with mid-caps and small- caps rising 1.3% on BSE.
The market breadth was firm. Out of 2,291 stocks traded , 1,474 stocks advanced compared to 704 declined on BSE.
