Sensex crosses 16,000 mark, L&T zooms 2%

Markets are trading on a higher note amidst volatility with the Sensex and the Nifty crossing 16,000 mark and 4,800 levels, respectively. Index heavyweights like Infosys, L&T and Reliance Industries are helping the markets to trade in positive zone.

By 1130, the Sensex was up 38 points at 16,009 and the Nifty gained 11 points to 4,790.

In Asia, Japan's benchmark Nikkei average is down 36 points at 8,443 and the Taiwan is down 0.2%.

Back home, BSE Capital Goods, Oil & Gas and Consumer Durable indices are witnessing buying interest, all surmounting by nearly 1% each.

In the capital goods space, L&T has zoomed by 2%.

From the metal segment, Jindal Steel, Sterlite and Hindalco have shined by almost 1% each.

Infosys and Reliance Inds have gained 1% each.

Amongst Auto counter, M&M, Bajaj Auto, Hero MotoCorp and Maruti Suzuki have gained between 0.3-1%.

However, Cipla, Coal India, JP Associates, Tata Motors and HDFC Bank are witnessing selling pressure, all tumbling down by almost 0.4% each.

In the broader market, the mid-cap and small-cap indices are trading marginally higher. Both the indices are up nearly 0.4% each.

ADAG (Anil Dhirubhai Ambani Group) stocks – Reliance Communications, Reliance Capital, Reliance Infrastructure and Reliance Power have rallied in the range of 2-5% on buzz of a patch-up between the Ambani brothers.

Hanung Toys and Textiles has rallied 8.5% to Rs 105.75, extending its over 22% surged in past two trading days, on back of huge volumes. The trading volumes on the counter jumped almost four-fold today.

Bharati Shipyard has zoomed 5% as the company's board cleared debt revamp worth Rs 2,854 cr.

Jet Airways has lost 2% on reports that I-T Department sent two notices to the company's promoter Naresh Goyal on overseas accounts.

The overall breadth remains positive as 1,240 stocks are advancing while 871 are declining.