Markets move strong; IT scrips gain

The markets continues to exhibit strength owing to firmness in the IT stocks and on tracking Asian cues. The Asian stocks rose to a one-month high today led by a rally in the technology sector.

The Sensex is now at 17,249, up 185 points and the Nifty is 50 points higher at 5,170.

Among the Sensex 30-pack, IT scrips like Infosys and Wipro have gained 2% each at Rs 2,685 and Rs 658, respectively on the BSE.

Tata Steel, Reliance and Hindalco are the other major gainers on the BSE, up 1.5% each.

Mahindra & Mahindra, Sterlite, Hindustan Unilever, Tata Power and HDFC have added over 1% each on the BSE.

on the other hand Bharti Airtel has slipped 1.5% to Rs 169 and ACC is down 0.5% at Rs 855.

The market breadth is positive, out of 2,265 shares traded, 1,613 have advanced and 582 have declined so far on the BSE.

The BSE midcap and the smallcap indices are up 1% each.

IT is the major sectoral gainer, up 2% at 5,258. It is followed by oil&gas and metal shares, up 1% each.