Sensex gains in early trades

Sensex has opened at 16,310 - up 84 points. The index is now up 185 points at 16,412.

The Nifty is up 51 points at 4,906.

The US markets ended in the green. The Dow Jones closed at 10268, stronger by 169 points or 1.6%, Nasdaq ended at 2214, higher by 30 points or 1.4% and S&P shut at 1094, up 19 points or 1.8%.

Asian markets have displayed strength in morning trades, taking cue from its US peers. The Hang Seng has jumped 367 points (1.8%) to 20,635. The Nikkei has rallied 210 points (2%) to 10,245.

Metal stocks have gained in morning trades. Hindalco has surged 5% to Rs 152. Tata Steel has rallied 4.2% to Rs 573. Sterlite has gained at Rs 2.7% at Rs 782.

Mahindra & Mahindra has added 2% to Rs 1,033. DLF, Jaiprakash Associates, Tata Motors, Bharti Airtel, Hindustan Unilever and Larsen & Toubro are up over 1% each.

The other gainers include HDFC Bank, HDFC, Maruti Suzuki and TCS.

The BSE market breadth is positive. Out of 1,568 stocks traded, 1,213 have advanced while 323 have declined.