Markets steady; Sensex up over 300pts

Markets continue to trade near day's high. The Sensex after opening at 17,655, gained to a high of 17,916 - its highest in two months.

The Sensex is now up 313 points at 17,884.

The Nifty is up 95 poinst at 5,357.

Asian markets continue to trade firm. The Hang Seng has gained 3% at 20,912. The Nikkei is up 2.4% at 10,238. European markets also opened in the green with the CAC and DAX jumping 1.5% each. FTSE has advanced 1% as well.

Among the sectoral indices, BSE metal index has surged 5% to 15,558. Realty, bankex, caiptal goods and auto indices have advanced 1-3% each.

Sterlite has surged 8% to Rs 183. Tata Steel has jumped 6% to Rs 503. Hindalco has gained 5.6% at Rs 154. Jindal Steel is up 2.4% at Rs 687.

ICICI Bank has moved up 4% to Rs 902.

Mahindra & Mahindra has added 3% to Rs 638. Tata Power and DLF have advanced 3% each to Rs 1,307 and Rs 291, respectively.

Jaiprakash Associates, HDFC, Larsen & Toubro, Reliance Infrastructure, Reliance Communications and Tata Motors are up 1-3% each.

Market breadth is fairly positive. Out of 2,919 stocks traded, 1,894 have advanced while 911 have declined.