Benchmark share indices ended higher on Wednesday led by private banks and index heavyweights.
The 30-share Sensex provisionally ended up 128 points at 18,457 and the 50-share Nifty provisionally ended up 42 points at 5,614.
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(Updated at 14:39hrs)
Markets firmed up in late noon trades led by private banks and index heavyweights Infosys and Reliance Industries.
Sensex gainers include, ICICI Bank, HDFC Bank up over 1.5% each while Infosys was up 1% and Reliance Industries was up 0.5%. Among other gainers ITC gained nearly 2%. Pharma shares such as Cipla and Sun Pharma both up over 2% each were the other prominent Sensex gainers.
At 14:38PM Sensex was up 123 points at 18,452 and the Nifty was up 38 points at 5,610.
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Update at 12:58PM
Markets are trading in the positive zone this afternoon, after having recoveerd from morning lows. The Sensex is up 78 points at 18,408. Nifty is up 20 points at 5,592.
Elsewhere in Asia, Nikkei, Hang Seng and Shanghai Composite have jumped 0.7-1% each led by exporters. The yen hit a seven-month low against the dollar on expectations that a new government will aggressively push the Bank of Japan to expand monetary stimulus.
Among the sectoral indices, BSE consumer durables index is up 1.3% at 7,485. Realty and FMCG shares have also shown gains and are up 1% each in trades. On the other hand, BSE power index has slipped 0.4% to 1,930.
From the Sensex pack, Sun Pharma has gained 2.2% at Rs 698. Jindal Steel, Cipla, Tata Power and ICICI Bank are up 1.5-2% each. Other gainers include ITC and Infosys - accounting for a 34 points jump on the Sensex.
In the negative terrain are stocks such as BHEL, NTPC and Bharti Airtel. Auto shares - Hero Motocorp, Maruti Suzuki and Tata Motors are also in the red.
"While BHEL is looking attractive the movement which happened in September where in the stock broke out from the 195 range and went upto Rs 270 and has seen correction currently. and it ensures it is a good time to enter this stock.. On Fibonacci series the stock has major support at 220-223 levels and there is high probability to go up one can buy this stock with stop loss at Rs 210," said Shubham Agarwal, Head, technical equities and associate vice- president, Motilal Oswal Securities.
MphasiS fell 4% to Rs 383 after the company's parent Hewlett-Packard took a $8.8 billion writedown on allegations of a massive accounting fraud at its British software unit Autonomy.
DB Realty jumped 7% to Rs 122 on reports Bharti Group's realty arm is in talks with DB Realty 's hospitality arm to buy 49% stake in a special purpose vehicle for upto Rs 350 crore.
Private sector banks rose 0.51% to 1.85% on BSE after the government on Tuesday said it will table the Banking Laws Amendment Bill, 2011 in the winter session of parliament which begins tomorrow, 22 November 2012.
