Markets extend gains; IT, FMCG scrips lead

ITC, Reliance Industries, TCS, Infosys and L&T among the top gainers in noon deals

Markets surged in noon deals on the back of buying interest in select heavyweights like ITC, Reliance Industries, TCS, Infosys and L&T. At 1300 hrs, the Sensex was up 221 points at 19398 and the Nifty gained 69 points to trade at 5840.

Meanwhile, in the broader markets, the mid and smallcap indices gained between 0.5-0.8%, both underperforming the BSE benchmark index which had gained over 1%.

In Asia, stocks clawed higher on Thursday but gains were tempered by concerns over political turmoil in Portugal and investor caution ahead of key events including Friday's U.S. jobs data.

MSCI's broadest index of Asia-Pacific shares outside Japan rose about 1%, recouping a portion of Wednesday's slide of roughly 2.5%.

Regional shares were broadly higher, with Hong Kong equities last up 1.7% after sliding 2.5% the previous day, while Shanghai stocks rose 1%.

Japan's Nikkei share average edged down in choppy trade on Thursday as investors turned cautious. Worries over political turmoil in Egypt and Portugal also dampened sentiment.

The benchmark Nikkei slipped 0.3% to 14,018.93 on Thursday after moving in and out positive territory.

Back home, all the sectoral indices were in the green with IT, FMCG, Realty and Consumer Durables indices leading gains, up 1.5-2%. However the Auto index was flat with a positive bias.

The top gainers among the Sensex stocks were Tata Power, ITC, TCS, Bharti Airtel, L&T and     Infosys gaining 2-3.5%.

Hindalco, Reliance Industries, Wipro, Gail India, HDFC and Tata Motors up 1-2% were the other notable gainers.

The only stocks in the red were among the Sensex-30 were Bajaj Auto, Sterlite, BHEL losing 1% each along with ONGC, ICICI Bank, Hero MotoCorp and Coal India giving off 0.3-0.4%.

The market breadth was very positive. 1,159 stocks advanced while 820 stocks declined on the BSE.