Markets extend gains

Benchmark Indices have extended the gains led by buying demand among Realty, Banks, Auto and Capital Goods shares.

By 1300, Sensex gained by 94 points at 18,705, and the Nifty was up 29 points at 5,689 levels. The Sensex and the Nifty have touched an intra-day high of 18,761 levels and 5,708 mark, respectively.

On the global front, the Asian markets are trading higher as a slew of Chinese data pointed to stabilisation in the world's second largest economy, and positive US housing data helped ease worries about a sharper slowdown in global growth.

Back home, the rupee recovered some of its initial losses against the American currency but was still down by 16 paise at 53.03 on fresh dollar demand from banks and importers despite its weakness in global market.

On the sectoral front, BSE Realty index has surged by almost 2% followed by counters like Banks, Auto, Power, Capital Goods, PSU, FMCG, Consumer Durable and Metal, all gaining by nearly 1% each.

The main gainers on the Sensex at this hour include Tata Power, Tata Motors, SBI, Hindalco, Hero Moto, ICICI Bank, L&T, Sterlite, ITC, Maruti Suzuki and Bajaj Auto, all rising between 1-3%.

On the losing side, Sun Pharma, Bharti Airtel and Wipro have declined by 1% each.

Among other shares, Jyoti Structure has rallied over 8% to Rs 48.80 after the company said that its promoters have released part of pledge shares with financial institutions.

Exide Industries is trading higher by 2% at Rs 162, also its 52-week high on the Bombay Stock Exchange on reports that the auto parts and equipment maker has hiked price across all categories by 5% with effect from today.

Meanwhile, BSE Midcap index has surged by 0.68% whereas BSE Smallcap index gained 0.57%.

The market breadth in BSE remains healthy with 1,521 shares advancing and 1,039 shares declining.