Markets up in early trades

Following yesterday's sharp spike in late noon trades coupled with positive cues from the overseas markets, the Sensex opened with a positive gap, and touched a high of 18,238. The index is now up 75 points at 18,188.

The NSE Nifty is up 17 points at 5,459.

Wipro has rallied 2.5% to Rs 426 after the company reported 30% jump in Q1 net.

Mahindra & Mahindra, BHEL and Maruti are the other prominent gainers.

ONGC and Cipla are the notable losers among the Sensex stocks.