Markets retain strength

The benchmark indices have remained firm in the past one hour. All the indices are up nearly a per cent each; The Sensex is now quoting at 16776, higher by 159 points, the Nifty is at 5034, up 47 points, midcap index is quoting at 6819, higher by 60 points and the smallcap index is at 8482, up 71 points.

The European markets have opened in the green, with the FTSE, DAX and CAC gaining upto a per cent each.

Bharti Airtel continues to hog the limelight in the largecap space. The telecom major is up 2.5% at Rs 271. Sterlite has added 2.6% at Rs 625 and Reliance Infra has gained 2.3% at Rs 1081. And index heavyweight RIL has bounched back from the day's lows of Rs 1000 and is now up 1.4% at Rs 1011.

In the midcap space, Marico has soared by 9.4% at Rs 115 and Bombay Rayon has gained 5.5% at Rs 219. Kwality Dairy, Bajaj Finserv, Geekay Finance and Bajaj Holdings have gained in the region of four per cent each.

In the smallcap space, KPIT Cummins has soared by 18% at Rs 128, Ashapura Minechem has added 12% at Rs 56 and Zodiac Clothing is up 5% at Rs 468.

On the losers side, ITC has weakened by 3.2% at Rs 280, Tata Power has lost 1% at Rs 1229 and Wipro has shed 0.5% at Rs 640.

The market breadth is positive. Out of 2754 stocks traded on the BSE, there are 1755 advancing stocks as against 884 declines.