Markets have surged to new 2009 highs. The Nifty is at its highest since May 2008 at 5,115 - up 61 points. The Sensex is up 207 points at 17,233.

Mahindra & Mahindra has surged 5% to Rs 959. Sterlite has gained 3.2% at Rs 835.

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HDFC, BHEL, Jaiprakash Associates, DLF, SBI, ONGC and TCS have advanced 1-2% each.

However, Telecom stocks have dipped in trades. Reliance Communications has dropped 2.5% at Rs 242. Bharti Airtel has slipped 1.5% to Rs 346.

The market breadth is fairly positive. Out of 2,390 stocks traded, 1,623 have advanced while 702 have declined.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets end on a strong note - Nabard FY14 operating surplus soars 28% to Rs 1,635 cr - RBI eases banks' term deposit restrictions - NMDC Q4 net down 21.74% to Rs 1,642.28 cr - Balrampur Chini Q4 profit up by 15%

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