Markets near day's high, Sensex up 264pts

The markets are currently trading a little off the day's high following th Trinamool Congress's victory in West Bengal, and the AIADMK's victory in Tamil Nadu.

The Sensex is quoting at 18,600 up 264 points, while the Nifty is up 84 points at 5,571.

In the broader markets, the Mid-cap index is at 6,910 up 1%, while the Small-cap index is up 0.6% at 8,383.

The FMCG, Bankex and Capital Goods counters are leading the sectoral indices chart up2% each.

With 1,607 advances versus 863 declines, the market breadth remained very positive.

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(Updated at 1140 hrs)

Robust trades continued to sustain the momentum in the markets, with the Sensex up 220 points at 18,556, while the Nifty scaled up 70 points to 5,556.

ITC was the top gainer on the Sensex up 2% at Rs 188, followed by ICICI Bank, which added 35 points to the overall gain on the Sensex, at Rs 1,078 and Jaiprakash Associates at Rs 87 both up 2%. Hindalco Industries, Bharti Airtel, Wipro, Bajaj Auto and Sterlite Industries added 2% each.

Cipla at Rs 303 and Mahindra & Mahindra at Rs 669 were the only Sensex components in the red, off negligibly.

The broader markets were firm. The Mid-cap index added 1% at 6,898, while the Small-cap index moved up 0.7% to 8,390.

THe FMCG counter contiuned to hold ground as the top sectoral gainer up 2% at 3,784, follwed by the Bankex at 12,615 up 1.5% and the Metal index up 1% at 15,376.

With 1,531 advances and 811 declines, the market breadth remained fairly positive.