Upmove continues in morning trades

The markets continue to move higher in the morning trades with the Sensex up 259 points at 18,695 and the Nifty has gained 77 points at 5,618.This upmove is aided by the gains in heavyweights like Relaince Industries and Bharti Airtel which are up over 1% each.

All the sectoral indices have advanced on the NSE.Infrastructure,Servives, IT and Energy indices up 1-1.5% continues to lead the gains.

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(Updated at 0930 hrs)
The markets opened on a strong note with the Sensex opening up 128 points at 18,564 and the Nifty started at 5,576, higher by 35 points. The CNX Midcap added 0.4% to open at 8,081.

Overnight, in the US markets stocks climbed as signs of progress on the U.S. debt talks and concrete action from Europe on its own debt crisis heartened investors. The gains followed that Greece will get a new aid package worth 109 billion euros ($157 billion) and that European Union leaders will amplify the role of the European Financial Stability Facility to allow it to lend to governments and to intervene in the secondary market to avoid contagion.

The Dow Jones industrial average gained 1.2% to 12,724.The Standard & Poor's 500 Index rose 1.3% to 1,344.The Nasdaq Composite Index advanced 0.7% to 2,834.

On account of this, the Asian markets too started on a strong note. Hang Seng up 1.5% is the top gainer followed by Straits Times, Nikkei adding 0.9% each.

Among the sectoral indices on the NSE, infrastructure is leading the upmove with a 0.8% gain followed by CNX Energy, Service and IT indices. The movers in the infrastructure space are Reliance Communications, Punj Lyod, Suzlon and JP Associates up 1% each.

The top gainers among the Nifty stocks in the opening trades are Ambuja Cement, Reliance Communications, Tata Power and Dr Reddy's gaining 1% each.

Sesa Goa down 0.7% followed by Jindal steel, DLF and Power Grid down 0.2-0.4%  are the top losers on the NSE.

The movers in the CNX Midcap 50 are Mphasis, Tata Global, Petronet and Aurobindo Pharma gaining 2% each in opening trades.

Among individual stocks, Yes Bank has strengthened on the bourses after reporting a 38% rise in net profit for the quarter ended June 30. The stock is quoting at Rs 322, stronger by Rs 4 or 1.5% on the NSE.

Rallis too surged 6% in early trades on the back of 59% gain in Q1 net profit to Rs 23.12 crore.