Markets head higher

The key benchmark indices have build on their early gains. Dalal Street had opened higher, taking cues from the positive sentiment across Asia, and things have only got better from thereon. The Sensex is quoting at 16772, higher by 114 points and the Nifty is at 5034, up 34 points. The midcap index is quoting at 6844, higher by 53 points and the smallcap index is at 8568, up 75 points. All the sectoral indices are in the green.

Bharti Airtel is the leading gainer on the BSE for the second consecutive day. The country's largest mobile telecom service provider announcing the completion of its deal on Wednesday to acquire the African assets of Kuwait's biggest phone company, Mobile Telecommunications Company, also known as Zain. The telecom major is quoting at Rs 277, stronger by 1.8%.

Reliance Infra is stronger by 1.6% at Rs 1086 and SBI is higher by 1.4% at Rs 2306. DLF, HDFC and Hindalco are the other significant gainers. And index heavyweight RIL has added 0.5% at Rs 1012.

ICICI Bank (lower by 0.4% at Rs 823) and ACC (weaker by 0.4% at Rs 854) are the only losers on the BSE.

The market breadth is strong. Out of 2180 stocks traded on the BSE, there are 1544 advancing stocsk as against 579 declines.