Markets extend gains

The Sensex has extended gains and touched a high of 17,554 - up 90 points. The Nifty is up 30 points at 5,231.
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(Updated at 1247 hrs)

Auto stocks have helped markets to stay firm in noon trades. The Sensex, after touching a high of 17,551, is now up 56 points at 17,520.

The BSE mid-cap and small-cap indices have out-performed the broader market. The mid-caps have gained 1% to 6,797 while the small-caps have jumped 1.5% to 8,484.

The Nifty is up 16 points at 5,217.

The BSE auto index has gained 1.5% to 7,553. However, the oil & gas indices is down in red at 10,425.

The BSE market breadth continues to be strong. Out of 2,847 stocks traded 72% have advanced while 25% have declined.

Auto stocks continue to gain on higher December sales numbers. Mahindra & Mahindra has surged 4% to Rs 1,125. Tata Motors has jumped 3% to Rs 818.

ACC has added 2.5% to Rs 893 on December coment sales. Tata Steel has gained 2% at Rs 629.

Wipro, Grasim, DLF, Jaiprakash Associates and Tata Power are the other gainers among the Sensex stock today and have moved up around 1% each.

However, Reliance has slipped 1.4% to Rs 1,073. The stock reported a block deal and slipped to a low of Rs 1,022.