Markets near day's high

Markets have extended gains on buying in the IT space. The Sensex touched a high of 17,977 - up nearly 100 points from the day's low. The index is now up 54 points at 17,964.

Nifty is up 18 points at 5,396.

TCS has gained 6% at Rs 829. Tata Motors and ICICI Bank have extended gains and are up 2% each to Rs 827 and Rs 900, respectively.

Jaiprakash Associates has added 1.2% to Rs 130. Reliance Communications and ACC have moved up around 1% each.

Meanwhile, Tata Power and Reliance continue to be weak and are down 1% each. Tata POwer is trading at Rs 1,325, while Reliance is at Rs 1,063.

BSE IT index has jumped 2% in trades. HCL Technologies and Mphasis are the major gainers in the index. However, Patni Computers and Financial technologies have dropped marginally in that space.