Nifty above 5,100 mark, financials lead

Markets continue to trade firm after the RBI in the third quarter review of Monetary Policy cut the Cash Reserve Ratio (CRR) by 50 bps to 5.5% and thereby will infuse Rs 32,000 cr liquidity into banks.

At 1145 hrs, the Sensex zoomed 209 points at 16,961 and they Nifty gained 65 points at 5,111 levels. The Sensex and the Nifty have crossed 16,900 mark and 5,100 levels, respectively. 

Financial shares like ICICI Bank, SBI, HDFC Bank and HDFC have rallied post the announcement of the policy, all rising between 1-2.5%.

Capital Goods major L&T is the top Sensex gainer, up by nearly 4%.

Index heavyweight RIL has gained by nearly 2% after plunging by nearly 3% yesterday on reporting disappointing numbers in the quarter ended December 2011.

Metal stocks like Tata Steel, Hindalco and Sterlite have gained between 1-2%.

Among other frontliners, Infosys, ITC, ONGC, Tata Motors, Bharti and Wipro have gained by nearly 1% each

However, Maruti Suzuki has fallen by nearly 2% after the stock rallied over 5% yesterday post Q3 numbers.

The broader markets are trading on a positive note. BSE Midcap and Smallcap indices have gained between 0.5-0.8%.