Markets extend gains on oil stocks

Markets have gained further on the back of buying in oil and FMCG stocks.

The Sensex is at the day's high of 17,629 - up over 90 points. The Nifty is up 29 points at 5,285.

BSE oil & gas index has surged 1.6%, followed by FMCG (1.2%) and PSU index (0.6%).

Heavyweight, Reliance, has contributed the most to the market's recovery today. The stock is now up 2% at Rs 1,088.

FMCG stocks have gained. ITC has jumped 1.6% to RS 302. Hindustan Unilever is flat at Rs 264.

Reliance Communications, BHEL, ONGC and Mahindra & Mahindra have added 1% each.

Meta stock - Sterlite, has rebounded into the green and is now up 0.6% at Rs 169. Larsen & Toubro, HDFC, Reliance Infrastructure, ICICI Bank and Hero Honda are the other gainers in the market today.

However, Wipro has shed 2% at Rs 383. TCS and Infosys are down 1% each at Rs 746 and Rs 2,767, respectively.

Bharti Airtel, Hindalco and Cipla are trading soft.

BSE market breadth is marginally positive. Out of 2,880 stocks traded, 1,464 have advanced while 1,307 have declined.