Markets remain firm, BHEL top gainer

Markets continue to maintain the steady movement with the Sensex and the Nifty gaining by over 1% each. The gains are led by consistent buying among index heavyweight RIL, Banks, Capital Goods and Consumer Durable shares. By 1305, the Sensex was up 151 points at 17,629 and the Nifty gained 46 points to 5,364.

On the global front, Asian markets are trading mixed with the Hang Seng and Kospi gaining by nearly 1%, while Nikkei and Taiwan Weighted have dropped by almost 1% each. European markets have opened flat. CAC, DAX and FTSE are trading marginally positive.

Back home, BSE Oil & Gas, Consumer Durable, Bankex and Capital Goods indices have surged by nearly 2% each. However, Healthcare, Auto and Technology are trading marginally in red zone.

Index heavyweight RIL has gained over 2%. RIL's Jamnagar manufacturing unit is planning to take Maintenance and Inspection (M&I) shutdown of one of the diesel hydro treating unit for approximately three weeks duration from 2 April 2012.

Banking stocks like HDFC Bank, ICICI Bank, SBI and HDFC have gained between 0.4-2%.

From the Metal space, Hindalco, Sterlite, Tata Steel, Jindal Steel and Coal India have gained between 1-3%. Metal shares are up, following similar movement in the London Metal Exchange.

Capital Goods major BHEL is the top Sensex gainer, up by over 1%. L&T has gained by nearly 2%.

However, weakness can be seen in Techology and auto shares. Hero MotoCorp has slumped 2%. Maruti Suzuki and Mahindra & Mahindra are down between 0.4-1%.

TCS and Infosys are also trading marginally weak.

The broader markets continue to outperform the benchmarks indices. The BSE Midcap and Smallcap indices have zoomed by over 1% each.

The overall market breadth in BSE remains firm with 1,652 shares advancing and 910 shares declining.