The markets continue its upward movement with the Sensex gaining 392 points at 19,978. The Nifty too is on an upward trajectory, adding 123 at 6,013. In the broader markets, the smallcap and midcap indices have gained in sync with the broader markets, advancing 1% each.
Earlier the day, the markets opened on a firm note with positive cues from the Asian markets. The upswing was due to Ireland formally applying for aid from the European Union and the International Monetary fund. However, the market pared some of its gains in the morning trade only to regain the in the mid morning trades.
Bankex, IT and Consumer Durables are the indices that lead the rally. On the other hand,Health Care and Capital Goods continued to remain as the main laggards throughout the day.
On the Asian front, Hang Seng and Shanghai Composite have closed in the red, shedding 0.3% and 0.1% respectively.Nikkei, Seoul Composite and Taiwan Weighted added 0.2% -0.8%
Encouraged by the Ireland news, the European indices have opened and continue to trade in the green. FTSE and CAC has gained 0.6% while DAX added 0.7%
Back home, Wipro and Jaiprakash Associates up 4% is the top gainer in the Sensex -30 tsocks. HDFC Bank, Infosys, DLF and Bharti Airtel adding 3% each are the other prominent gainers.
Sterlite shedding 0.4% is the only index in the red on the Sensex.
The market breadth is very positive. 1857 stocks have advanced while 1091 have declined.
