Markets sustain gains

The markets have managed to sustain their early morning gains, albeit off their day's highs, in the past one hour. The Sensex is at 17,045, higher by 62 points, and the Nifty is at 5,087, up 21 points. Metals, consumer durables and realty stocks are leading the upmove.

Metal stocks have rebounded after the previous day's correcton. Tata Steel has strengthened by Rs 7 or 1.4% at Rs 564 and Hindalco is trading higher by Rs 1 or 1.3% at Rs 144. Reliance has put on Rs 14 or 1.3% at Rs 1069. Bharti Airtel has continued from where it left, gaining an additional Rs 4 or 1.3% at Rs 320.

Reliance Infrastructure, L&T and Maruti are the other notable gainers.

Among the losers, Reliance Communications has lost 0.9% at Rs 174, SBI has weakened by 0.7% at Rs 2,309 and M&M is trading lower by Rs 5 or 0.5% at Rs 1,022.

The market breadth is overwhelmingly strong. Out of 2,457 stocks traded on the BSE, there are 1,489 advancing stocks as against 890 declines.