Markets firm up led by banks, FMCG shares

Private banks, ITC, HUL among top Sensex gainers

Benchmark Indices are trading higher led by buying demand among FMCG, banking and software shares.

By 1130, Sensex gained by 83 points at 16130, and the Nifty was up 29 points or 0.33% at 4838 levels. The Sensex and the Nifty reached an intra-day high of    levels and    mark, respectively.

On the global front, Asian shares and the euro steadied on Tuesday, drawing support from expectations that the US Federal Reserve will take fresh economic stimulus measures this week.

Back home, the rupee today strengthened by 19 paise to 54.29 against the dollar in early trade at the Interbank Foreign Exchange (forex) market on selling of the US currency by exporters amid foreign capital inflows.

On the sectoral front, BSE Healthcare, FMCG, Banks, IT and TECk indices have gained by 1% each. However, BSE Realty, Power and Auto indices are trading marginally lower.

The main gainers on the Sensex at this hour include Sun Pharma, JSPL, Bajaj Auto, HUL, JSPL, HDFC, ICICI Banka and ITC, all gaining between 1-3%.

On the losing side, BHEL, Tata Motors, Tata Power, Hindalco, Sterlite and Maruti Suzuki have fallen between 0.4-5%.

Among others shares, Lakshmi Vilas Bank has surged over 14% at Rs 111 in late morning deals on the back of heavy volumes. Stock of the private sector lender is currently trading at its lifetime high and has rallied 37% in past two trading sessions on the BSE.

Shares of Videocon Industries were up 2% after the company announced new oil discovery in ultra deep waters of Sergipe Alagoas Basin in Brasil.

The discovery well 1-SES-166, informally called 'Cumbe' is located 109 kms from the city of Aracaju in water depth of 2,313 mts, the company said in a filing to the Bombay Stock Exchange.

The market breadth in BSE remains marginally positive with 1,321 shares advancing and 1,156 shares declining.