Broader markets outperform

The Sensex and Nifty continue to trade higher. The sensex is up 118 points at 20,523 and Nifty is trading higher by 34 points at 6180.

The broader markets have outperformed the benchmark indices. The mid-cap index is up 1.2% or 104 points at 8440 and the Small-cap index is at 10,681 up 124 points. The BSE 500 market breadth is extremely positive as 405 stocks are advancing and 91 stocks are declining.

Shipping Corporation of India is the top gainer among the Mid-caps, the stock is up 15% at Rs 193 followed by Motilal Oswal, Indian bank, J M financial and Indiabulls Real Estate up more than 5% each.

Among the Small-caps Garware Offshore leads the rally up 15% at Rs 148 followed by Bharti Shipyard, Emco, Nagarjuna Fertilizers and ITI up more thn 7% each.

All the sectoral indices are in the green. metal index continue to shine, the index is up 2.2% or 386 points at 17,951 followd by Realty, Consumer Durables and PSU indices.

Hindustan Zinc leadsthe rally among the Metal stocks followed by Hindalco Industries, NALCO, Sterlite Industries and Tata Steel.

Meanwhile J P Associates leaads the Sensex charts followed by Hindalco Industries, Sterlite Industries, Tata Steel and Jindal Steel.

However profit booking is visible in Mahindra & Mahindra, RCom, ONGC and SBI.