Markets remain firm; Nifty crosses 5200

It has been an almost perfect session of trade. The indices opened in the positive, took their time to digest their gains and have begun to trend upwards. The Sensex is now quoting at 17359, stronger by 169 points or 0.9% and the Nifty has surpassed the 5200 mark and is now quoting at 5207, up 50 points. The broader markets have also joined the party, the midcap and small-cap indices are up 1.3% each at 7023 and 8964 respectively.

Bharti Airtel has rebounded considerable ground after the hammering received on the previous day. The telecom major has now gained more than 3.6% at Rs 271 to be the major gainer on the Sensex. Tata Motors has strengthened by 3.3% at Rs 830 and M&M has gained 3.3% at Rs 564. RIL, though, is trading flat at Rs 1085.

Wipro is the sole loser in the Sensex-50 space. The IT major has lost 0.6% at Rs 674.

The market breadth is strong. Out of 2743 stocks traded on the BSE, there are 1877 advancing stocks as against 777 declines.