The NSE Nifty held the 4900 level at 11:07 hours IST, though there was some profit booking at bigger standards. Ongoing buying in telecom, realty, metal, banking and auto stocks was boosting the markets to remain on the upswing.
Nevertheless, marginal selling in HDFC, Reliance Industries, TCS, Wipro and GAIL capped the earnings to some degree. The BSE Sensex was 116 points high at 16,571 and the NSE Nifty was 36 points high at 4,928. The market breadth was optimistic; nearly 840 shares rushed while 361 shares fell on the Nifty.
Tata Steel rushed 5.39%. Reliance Communication, SBI, SAIL, Sterlite Industries, M&M, Jindal Steel, NALCO and PNB were 1.5-3.5% high.
Orchid Chemical, Money Matters, Royal Orchid, Ruchi Infra and MSP Steel ascended 8-15% while JBF Industries, Geekay Finance, Austral Coke and Andrew Yule dropped 3-5%.
Hotel Leela, Phoenix Mills, LIC Housing Finance, IndusInd Bank and MindTree went 5-6% high while BF Utilities, Gujarat NRE Coke, Simplex Infra, Shriram City and Kirloskar Brothers dipped 1-2%.
LIC Housing Finance, Aban Offshore, Tata Steel, Jindal Steel, Unitech, Jaiprakash Associates and SBI were the most vigorous shares on the bourses.