Ahead of election results the benchmark indices shot up despite weak IIP (Index of Industrial Production) date, which came in at 2.3 per cent. Huge buying in technology, banking, realty, telecom and infrastructure stocks supported the markets to show strong upsurge.
HDFC, Wipro, ICICI Bank, Bharti Airtel, Infosys, Reliance Industries, Hindalco and BHEL were up by 5-7.7 per cent.
NSE's Nifty touches 3,600 mark
At 13:20 hours IST, Sensex was trading at 11,887, up 205 points and the Nifty rose 49.5 points, to 3,604. After the consolidation in the first half of the trade, markets gained strength and extended gains.
The 50-share basket of National Stock Exchange's (NSE) Nifty touched the 3,600 mark while the Sensex moved towards the 11900 level.
Buying interest is seen in technology, banking, oil & gas, realty, select power and telecom stocks. However, L&T, HUL, Hero Honda, SAIL, Siemens, Tata Steel, ACC and Grasim were still under pressure.
Indices in green; Banking, tech gain
The BSE Sensex was trading at 11,727, up 44 points and the NSE Nifty was up 9 points, at 3,563, at 11:54 hours IST. However, broader indices were marginally down.
The indices are quietly trading and buying was seen in in banking, technology, oil marketing, select telecom companies' shares and in stocks like ONGC, BHEL, ITC and NTPC. Market breadth was marginally weak. While 1,168 shares declined about 978 shares advanced.
Indian Markets open weak; volatile
Indian benchmark indices opened on a weak note and were trading with some volatility. At 9:56 am, the Sensex was down 25 points, to 11,657 and the Nifty fell 9 points, to 3,545. The CNX Midcap slipped 0.64 per cent, to 3,979.
Metal, realty and capital goods and select financial stocks are under pressure. Among the frontliners, Tata Steel, SAIL, Sterlite, Unitech, DLF, Ranbaxy, Tata Motors, Cipla, SBI, HDFC, Reliance Capital, L&T and BHEL were the losers. However, BPCL, Ambuja Cements, ONGC, Infosys, ICICI Bank and TCS were the gainers.