Markets inch higher

After a quite opening owing to the subdued Asian markets, the Sensex gained momentum to reach the day's highs of 18,213. The index is currently quoting at 18,210, up 38 points, and the Nifty has gained 14 points at 5461. The Smallcap index (up 0.8%) and the Midcap index (up 0.7%) continue to outperform the benchmark index (up 0.2%) for the fourth consecutive day.

Among the Sensex-30 stocks, Tata Motors (up 2.4%) is leading the gainers list, followed by Mahindra & Mahindra, which gained 1.6% and HDFC, up 1.1%.

On the losers list, ONGC shed nearly 1%, closely followed by Sterlite Industries, TCS and SBI.

In the Midcap space, 199 stocks advanced as compared to just 72 declines. The major gainers are DEN Networks and Hathway Cables, up 13% each, followed by KGN Industries, Monsanto India and Dish TV India.

In the Smallcap space, 402 stocks advanced and 111 declined. Wire & Wireless, which gained 13%, topped the gainers list, followed by REI Six Ten Retail, Maharashtra Scooters and Hinduja Ventures.

The market breadth is positive- 1680 stocks advanced compared to 797 declines.