The Sensex has ended (provisional) at 17,018, up 276 points. The NSE Nifty has settled (provisional) at 5,106, up 86 points.
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(Updated at 1443hrs)
The markets have held on to their gains in the afternoon session. With the Asian bourses adding between 1% and 3% each and the European indices following suit, the domestic bourses could not have asked for a more favourable environment. No matter, the benchmark indices are comfortably placed above important psychological levels. The Sensex is well above the 17k mark at 17059, stronger by 317 points and the Nifty is quoting at 5120, up 100 points. All the sectoral indices are in the green, with banking, oil and metals occupying the pride of place.
Reliance Communications has soared more than 6% at Rs 164 to lead the pack of Sensex gainers. The company is reportedly considering a merger with South Africa's MTN or planning to rope in a strategic foreign investor to fund its foray into 3G services.
Axis Bank is the leading gainer in the banking space, having strengthened by 3.2% at Rs 1242. HDFC Bank has added 2.2% at Rs 1896, ICICI Bank has added 1.4% at Rs 855 and SBI has added 1.6% at Rs 2296.
RIL has strengthened by 2.4% at Rs 1035, ONGC is up 2.3% at Rs 1209 and GAIL is up 1.6% at Rs 402 in the oil space.
And in the metal space, Sterlite has strengthened by 2.7% at Rs 652, Hindalco have gained 2.3% at Rs 146 and Sail is up 1.3% at Rs 203.
The market breadth is positive. Out of 2881 stocks traded on the BSE, there are 1962 advancing stocks as against 822 declines.
