The markets have flared up in the last half-hour of trades with FMCG and banking stocks leading the way. The Sensex has now gained 376 points at 18,712.
The markets seemed to have cheered the outcome of state elections, with big wins for Trinamool Congress-led alliance in West Bengal and AIADMK in Tamil Nadu.
The BSE FMCG index has surged 3% to 3,827. The BSE Metal and Bankex have rallied 2.4% each to 15,440 and 12,724, respectively. The Auto and Capital Goods indices also have rallied over 2% each.
ITC has surged over 4% to Rs 192. Tata Motors, ICICI Bank and Bajaj Auto have rallied over 3.5% each to Rs 1,232, Rs 1,092 and Rs 1,353, respectively.
Hindalco, Larsen & Toubro, Jaiprakash Associates, Tata Steel, Wipro, Sterlite, DLF, Hero Honda and HDFC Bank are the other major gainers.
The market breadth is extremely positive - out of 2,710 stocks traded so far, 1,659 have advanced, 926 declined on the BSE.
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