Markets move higher as heavyweights gain

ITC,Infy and RIL lead gains

Markets continue to trade higher on the back of renewed buying interest in FMCG, Auto and IT stocks. The Sensex advanced 130 points at 17,788 and the Nifty gained 33 points at 5,396.

In the broader markets, smallcap and midcap indices was up nearly 1% each outperforming the Sensex which gained 0.8%.

Asian markets too advanced after German Chancellor Angela Merkel voiced support for the European Central Bank's efforts to contain the debt crisis in the euro zone. The notable gainers were Hang Seng and Nikkei up 0.5% each.

Back home, all the sectoral indices were in the green except Capital Goods which was marginally in the red. The ones leading the gains were FMCG, Auto, IT and Oil & Gas indices.

Among the auto stocks, Tata Motors, Maruti Suzuki and Mahindra & Mahindra gained 1-2% and were among the top Sensex gainers. Tata Motors rose 2.5% after saying on Thursday that global sales, including for luxury unit Jaguar Land Rover, were up 21% in July.

From the FMCG space, Hindustan Unilever and ITC added 1-2%. ITC added 1% recovering from its 3.5% fall in the previous session.

The other notable Sensex gainers included HDFC, Infosys, Reliance Industries, ICICI Bank and TCS up1% each.

Among the losers were capital goods majors, L&T, BHEL down 0.1 and 0.6% respectively.

Metal scrips like Sterlite, Hindalco too lost 0.4-0.6%

Among other stocks, Claris Lifesciences rallied 7% to Rs 222, also its 52-week high, after Barclays Capital Mauritius bought about 1% or 401,100 shares at Rs 162 per share through open market transaction.

Tribhovandas Bhimji Zaveri (TBZ) soared 18% at Rs 106 on reports that jewellery retailer is planning to open 57 new show rooms in 11 states with the investment of over Rs 1,000 crore.

Lupin gained 1.8%, while UltraTech Cement stepped up 0.5%, as both stocks were to be included in the Nifty.

The market breadth was very positive with 1461 stock advanced while 659 stocks declined on the BSE.