The 30-share BSE Sensex closed at 17,198.95, up 67.87 points and the Nifty was up 17.60 points to settle at 5,108.15 while the broader indices shut shop marginally lower.
Heavyweight Reliance Industries supported the markets to major extent as it gained over 2 per cent during the day as it will go ex-bonus on Thursday, Nov 26.
After UP Sugar Association reached pact with farmers, Sugar stocks like Bajaj Hindusthan, Dhampur Sugar, Balrampur Chini, Dharani Sugars, EID Parry, Oudh Sugar Mill, Shree Renuka, Simbhaoli Sugar, Triveni Engg, Upper Ganges and Uttam Sugar continued the rally through out the day.
However, on the negative side, Mahindra Satyam plunged 6 per cent as the CBI filed supplementary chargesheet in the Satyam fraud case.
Nifty holds 5100 mark on +ve global cues & buying
At 1: 30 pm, the Sensex gained 146 points to 17,277 and the Nifty went up by 42 points to 5,132. The BSE Midcap Index gained 0.5 per cent and Smallcap was up 0.65 per cent.
In sugar stocks, Bajaj Hindusthan, Balrampur Chini, Dhampur Sugar, Triveni Engg and Oudh Sugar Mill, Andhra Sugar, Bannariamman, Dwarikesh Sugar, EID Parry, Mawana Sugars, Ponni Sugars (E), Shree Renuka, Simbhaoli Sugar, Upper Ganges and Uttam Sugar were up 1 to 4 per cent.
On the BSE Midcap: M&M Financial, KGN Industries, Gujarat Gas, Sintex India and Prism Cement gained 4 to 6 per cent to become the top gainers while the top losers were Motherson Sumi, Indiabulls Real Estate, Motilal Oswal, Nagarjuna Fertilisers and OnMobile Global down 2 to 4 per cent.
With the technology company shares seeing buying interest, TCS was up 1.4 per cent, Infosys gained 0.6 per cent and Wipro went up 0.4 per cent.
While top gainers on the BSE Smallcap were Honda Siel, KPIT Cummins, Avaya Global, NESCO and Nahar Spinning up 9 to 17 per cent, Grindwell Norton, Jindal Worldwide, Hikal, Shristi Infra and Hind Nat Glass were the losers, down 3 to 7 per cent.
2: 32 PM
Benchmarks gain strength; FMGC, auto, cement up
After seeing consolidation in the early trade, the Indian benchamarks are gaining strength. Oil & gas, metal, auto, FMCG, capital goods, cement and banking (barring ICICI Bank) stocks were witnessing buying interest.
At 10: 52 am, the Sensex was up 99 points at 17,230 and the Nifty gained 26 points at 5,116. The broader indices were up 0.8 per cent each.
The gains were capped to a major extent due to the selling in ICICI Bank, Bharti, DLF, Cairn, Tata Power, HCL Tech, Jaiprakash Associates, Reliance Infrastructure and Sun Pharma.
Surging 5 per cent, BPCL was the top gainer on the NSE, while Reliance Industries continued in the green zone gaining 1.5 per cent as it will go ex-bonus on Thursday, Nov 26.
Among the largecaps, M&M, Maruti Suzuki, Sterlite Industries, Hero Honda and SAIL were up 1.5 to 2 per cent.
The most active shares were Reliance Industries, Mahindra Satyam, Astec Life, Den Networks, Sesa Goa, ICICI Bank and JSW Steel.
Among the midcaps, M&M Financial, Gujarat Gas, Jai Corp, Jagran Prakashan and Reliance Industrial Infrastructure surged 4 to 6 per cent. However, KGN Industries, Motherson Sumi, Chambal Fert, OnMobile Global and REI Six Ten slipped 2 to 5 per cent.
In the smallcap arena, the gainers were Man Industries, Jindal Drilling, IndiaNivesh, Honda Siel and Ador Welding up 8 per cent while Grindwell Norton, Shristi Infra, Jindal Worldwid, Mahindra Forgings and Suraj Stainless were the losers down 3 to 5 per cent.
12: 30 PM
Sensex consolidates ahead of F&O expiry; RIL up
Ahead of the F&O Expiry on Thursday, Nov 26, the Sensex continued to see some consolidation for the second day this week. At 9:56 am, BSE Sensex gained 25 points at 17,155 and NSE Nifty was up just 2 points at 5,092. The CNX Midcap surged 37 points to 7,267.
Wednesday, Nov 25 being the last day for the Reliance Industries Ltd's (RIL) cum bonus trade, the index heavyweight was trading marginally up.
ICICI Bank slipped 1.5 per cent, trading below Rs 900 level. Reliance Infrastructure, Wipro, Infosys, TCS, HDFC, Bharti Airtel and Hindalco the early losers among the frontliners, while BPCL, M&M, Maruti, Hero Honda, ITC, IDFC, BHEL and ONGC were the gainers in early trade.
Among the midcaps, Man Industries shot up 11 per cent, Geometric Soft and Max India were up over 2 per cent. Riding on good numbers, MphasiS was up 1.7 per cent.
Den Networks slipped 0.5 per cent further after losing 16% on its very first day in trade on Tuesday, Nov 24. Vishal Retail plunged over 5.5 per cent.
10: 25 AM