Markets extend gains

Markets have extended gains. The Sensex has touched a high of 17,531 and is now up 181 points at 17,524.

The Nifty is up 49 points at 5,219.
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(Updated at 1254 hrs)

Markets have continued to move side-ways after touching a high of 17,514  even as a higher food price inflation was reported.

The Sensex is now up 148 points at 17,492. The Nifty is up 39 points at 5,208 - its highest in nearly 20 months.

Food inflation has risen nearly 20% on the back of spurting prices of potato and pulses. In the second week of December, the food inflation was at 18.6%.

Market heavyweight - Reliance has gained 1.5% at Rs 1,091. Jaiprakash Associates has added 3.5% to Rs 147.

SBI and Mahindra & Mahindra have moved up 1.5% each to Rs 2,263 and Rs 1,078, respectively.

NTPC, BHEL, Grasim and Larsen & Toubro are the other gainers in the market today.

The BSE market breadth is positive. Out of 2,820 stocks traded 1,872 have advanced while 864 have declined.

VALUE & VOLUME TOPPERS...

Tinplate Company has topped teh value chart with a turnover of Rs 95.33 crore, followed by SBI (Rs 66.15 crre), Tata Steel (Rs 63.39 crore), Larsen & Toubro (Rs 62.57 crore) and HOEC (Rs 37.94 crore).

The volume chart is being led by Radhe Developers with trades of over 11.35 million shares, followed by Tinplate Company (10.47 million), Gammon Infrastructure (7.92 million) and Indiabulls Securities (5.93 million).