Markets continued to trade on a lacklustre note with the Sensex gaining 61 points to 18,532. Nifty on the other hand, has added nine points at 5,639.
"We are seeing renewed optimism coming back to Indian markets on back of government focus on reforms, increase in global liquidity(QE, Bond buying) and probable beginning of earning upgrade cycle," said Rikesh Parikh, Vice-President (Equities), Motilal Oswal Securities.
In Asia, markets traded on a mixed note. Hang Seng and Nikkei gained 0.2-2.2% each. The Nikkei regained the key 9,000-mark, as investors bet Japan's main opposition party will win next month's election and put more pressure on the central bank to stimulate the ailing economy. However, Shanghai Composite remained in the negative zone.
BSE midcap index outperformed with gains of 0.5% at 6752. The small cap index traded marginally in green at 7203.
From the sectoral pack, BSE IT index has added 1.5% to 5733. PSU. Metal and healthcare shares are also in the green. On the other hand, Auto and bankex are down 0.3% each.
Infosys is the top mover among Sensex stocks- up 3.3% at Rs 2370. Bharti Airtel and ONGC have contributed 28 points to the Sensex's upmove. Among other gainers are Jindal Steel, Dr REddy's, ITC and Coal India.
In the losers list were Cipla, HDFC and Gail India.
In individual stocks, Zylog Systems hit the 5% lower circuit filter for the day at Rs 72.25, after reporting a 56% year-on-year (y-o-y) drop in its consolidated net profit at Rs 21.5 crore for the second quarter ended September 2012 due to higher total expenditure.
Tata Coffee has surged 14% to a new high of Rs 1,537, on back of heavy volumes on the counter. The stock has rallied 33% in past two trading sessions have seen a combined 1.07 million shares changing hands on the counter in morning deals against sub 200,000 shares that were traded daily in past two weeks.
