Markets extend gains, Sensex up 270 points

The markets continued to move up on the back of value buying post a correction of nearly 12% last month; the Sensex posted gains of 266 points at 18,357, while the Nifty scaled up 72 points at 5,504.

The benchmark was still over-performing the broader indices, as the Mid-cap and Small-cap indices lodged gains of nearly 1% each, at 6,798 and 8,418 respectively.

Gainers in the mid-cap space were Simplex Infra up 7% at Rs 365, Glaxosmithkline Consumer at Rs 2,100 and JSL Steel at Rs 92 both up 6%, and Shree Renuka Sugars at Rs 91 and Bayer Corp at Rs 795, both up 5%.

In the small-cap sector, Birla Power led the gains up 19%, followed by Allied Digital at Rs 169 up 11%, Kama Holdings up 7% at Rs 454 and Consolidated Constructions at Rs 56 up 6%.

Realty ruled the sectoral charts, yet again, with a 3% gain at 2,252, and the Metal index also continued to hold steady ground at 16,386 up 2%. The Bankex saw a climb of 1.6% at 12,052.

Healthcare was the sectoral laggard, but it was trading in the positive at 6,181 up 0.5%.

Market breadth remained positive, with an advance of 1,556 stocks, versus a decline of 959.