Markets regain strength

The markets have regained strength in the last few minutes of trade. The Sensex has rallied 250 points to 19,373. The NSE Nifty has moved up 85 points to 5,826.
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(Updated at 1350 hrs)

The markets pared some of its morning gains to touch an intra-day low of 19,171, down 103 points from the day's opening of 19,274. The sudden fall was witnessed as the special court denied bail to five corporates involved in the 2G scam.  As a result, the ADAG pack tumbled.

Among the sectoral indices, Capital Goods and Realty slipped into the negative, down 0.2% and 0.1% respectively. Meanwhile, Auto index up 1.6% lead the gains followed by IT, Consumer Durables and Metal.

As a reaction to the latest development, Reliance Communication dipped 4%, Reliance Capital and Reliance Infrastructure lost 1% each. DB Realty shed 9% and Unitech gave up 7% were the major losers.

Auto scrips lead the Sensex gainers list. Mahindra & Mahindra and Tata Motors up 3-4% were the top gainers followed by TCS, Jindal Steel, Hindalco, DLF, ONGC and Tata Steel which added 1-2%

Hero Honda down 3%, L&T and ITC down 1% and 0.3% respectively are teh top losers among the Sensex stocks.

Market breadth was positive. 1775 stocks advanced while 1025 declined.