NSE's Nifty posted the biggest percentage gain ever. Both the indices surged over 25 per in this series. The shares of capital goods, metal, banking, oil & gas exploration and select power companies led the rally. Good results from L&T and M&M were also supportive for the markets.
Sensex above 14K; M&M, L&T gain
The Sensex was up 170.74 points or 1.21pc at 14280.38, and the Nifty was up 57.90 points or 1.35 pc at 4333.95, at 13.40 hrs IST. The Indian markets are trading higher as a result of buying seen in the shares of capital goods, metals, technology, select banking and power stocks.
Top gainers on the Sensex were M&M, L&T, Bharti Airtel, Sterlite Ind and Ranbaxy Labs. About 1823 shares advanced, 1018 shares declined, and 288 shares were unchanged.
Indices up; Market breadth +ve
The Sensex was up 195 points, to 14,305 and the Nifty rose 60 points, to 4,336, at 12:56 hours IST. The broader indices like BSE Midcap and Smallcap indices gained 0.7-0.9 per cent.
The indices are recouping, after the major private capital goods company L&T's fourth quarter numbers. Shares of capital goods, metal, oil & gas exploration, select financial, power and telecom companies were seeing buying interest. However, the markets were still seeing some selling pressure at higher levels, which aiding to volatility.
The market breadth was in favour of advances; about 1833 shares advanced while 994 shares declined. Nearly 302 shares were unchanged.
Indices choppy ahead of F&O expiry
Indian benchmark indices opened marginally up on a positive note, but soon turned choppy ahead of F&O expiry on Thursday, May 28.
At 9:56 am, the Sensex was trading at 14,164, up 55 points and the Nifty was up 13 points, to 4,288. The CNX Midcap rose 0.65 pc, to 5,237 and the BSE Smallcap Index went up 1 pc, to 5,859.
The major gainers of the opening trade are M&M, Reliance Power, Bharti, DLF, Reliance Industries, ITC, Wipro, HCL Tech and Unitech. However ONGC, BPCL, Tata Communication and Idea were the losers.