Markets regain strength

Markets have regained strength and extended gains in noon trades on fresh buying in Reliance.

Earlier in the day, the Sensex had opened with a positive gap following cues from Asian markets. However, the index had pared some gains on declining US futures.

The Sensex has once again surged, on the back of buying in oil and consumer durables stocks and touched a high of 17,716. The index is now up 125 points at 17,699.

The Nifty is up 40 points at 5,309.

BSE oil & gas index has gained 2% in noon trades to 10,821. Consumer durables, PSU and power indices ahve added over 1% each.

The BSE small-cap index has outperformed and gained 1% to 9,083.

Reliance Communications continues to shine and is now up 3.5% at Rs 199.

ONGC has jumped 2.8% to Rs 1,300. Reliance has gained 2% to Rs 1,084.

Reliance Infrastructure, Tata Motors, Tata Steel and Tata Power are up over 1% each.

Hindalco, BHEL, Mahindra & Mahindra, Sterlite, L&T and Wipro are the other big gainers.

However, FMCG major, ITC has dropped 1% to Rs 298.

Maruti Suzuki, Jindal Steel and Cipla have dropped marginally in red.