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Markets end on a strong note

RIL top gainer among the Sensex stocks

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ended today's trading session on a strong note led by gains in the index heavyweight Reliance Industries. The jumped 200 points to provisionally close at 17,391 and the 50-share closed higher by 58 points at 5,274.
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(Updated at 1430 hours)

Markets are trading on a firm note in the late noon deals on the back of sustained buying visible in the heavyweight pockets. The Sensex is up 245 points at 17,443 and the 50-share Nifty has advanced 76 points to 5,292 levels.

The Asian markets closed on a positive note on the of solid US jobs data. The Hang Seng closed higher by 332 points at 19,998, Nikkei jumped 172 points to 8,126 and the Taiwan closed higher by 69 points at 7,286 levels.

The European markets were trading on a flat note as investors grew cautious over the prospects of a bailout for Spain, with its 10-year bond yield holding close to 7% danger levels.

The CAC 40 index was up 12 points at 3,387, DAX was up 36 points at 6,899 and the FTSE 100 was up 4 points at 5,791.

Back home, index heavyweight Reliance Industries continues to lead the gainers chart on the Sensex. It has surged 5.4% to Rs 783, also its three-month high price. The stock opened at Rs 748 and a total of 1.1 million shares have changed hands compared to 2,76,000 shares which were traded daily in past two weeks. It has contributed 85 points to rise in the Sensex.

Tata Motors, GAIL India, HDFC Bank, BHEL, Tata Steel, Larsen & Toubro, Sterlite Industries, ICICI Bank, HDFC, Hindalco and Bajaj Auto are also among the gainers.

On the other hand, Dr Reddy's Labs, Coal India, ITC, TCS and Hindustan Unilever are among the notable laggards from the heavyweight space.

Led by the gains in the Reliance Industries, the BSE oil & gas index is the top sectoral gainer, up nearly 3% or 232 points at 8,338 levels. Realty, auto, bankex, capital goods,  metal and consumer durable indices are also trading higher by 0.8-1.7% each.

The broader markets are also trading higher. The BSE mid-cap and small-cap indices are up 0.8% each.

The overall breadth is positive as 1,651 stocks are advancing while 1,097 are declining.

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