After initial weakness, the market has catapulated into higher terrain. The Nifty is sitting above 7800, up 75.30 points or 0.9 percent. The Sensex is up 250.96 points or 0.9 percent at 25733.48. About 1514 shares have advanced, 583 shares declined, and 151 shares are unchanged.
Equity benchmarks continued to see buying interest led by short covering on positive global cues. The Sensex rallied 158.48 points or 0.62 percent to 25641 and the Nifty rose 47.10 points or 0.61 percent to 7778.90. The broader markets also gained strength with the BSE Midcap and Smallcap indices rising 0.5 percent and 0.8 percent, respectively.
The market breadth too was positive as about 1316 shares have advanced against 446 declining shares on the BSE. Index heavyweights like ICICI Bank, Infosys, HDFC Bank, HDFC, Reliance Industries, ITC and L&T continued to support market in morning trade, up 0.7-1.4 percent. Auto stocks were also in demand as Maruti Suzuki, M&M, Bajaj Auto and Hero Motocorp gained 1-2 percent after Hero says retail sales crossed record 10 lakh units in festive season, up 11 percent year-on-year.
Dr Reddy's Labs topped selling list, down 4.6 percent as the drug major is caught in a probe concerning possible violation of federal security laws. Lundin Law PC has announced that it is investigating claims against Dr Reddy’s Laboratories concerning possible violations of federal securities laws. Sun Pharma, Lupin, ONGC, NTPC and Tata Motors lost marginally.
Equity benchmarks continued to see buying interest led by short covering on positive global cues. The Sensex rallied 158.48 points or 0.62 percent to 25641 and the Nifty rose 47.10 points or 0.61 percent to 7778.90. The broader markets also gained strength with the BSE Midcap and Smallcap indices rising 0.5 percent and 0.8 percent, respectively.
The market breadth too was positive as about 1316 shares have advanced against 446 declining shares on the BSE. Index heavyweights like ICICI Bank, Infosys, HDFC Bank, HDFC, Reliance Industries, ITC and L&T continued to support market in morning trade, up 0.7-1.4 percent. Auto stocks were also in demand as Maruti Suzuki, M&M, Bajaj Auto and Hero Motocorp gained 1-2 percent after Hero says retail sales crossed record 10 lakh units in festive season, up 11 percent year-on-year.
Dr Reddy's Labs topped selling list, down 4.6 percent as the drug major is caught in a probe concerning possible violation of federal security laws. Lundin Law PC has announced that it is investigating claims against Dr Reddy’s Laboratories concerning possible violations of federal securities laws. Sun Pharma, Lupin, ONGC, NTPC and Tata Motors lost marginally.
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