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Markets continue to trade in a narrow territory with the benchmark indices retaining its morning gains. Heavyweights such as Infosys, Tata Motors, RIL and ITC were the top gainers in early noon trades.
At 1330 hrs, the Sensex was up 155 points at 27,036 and the Nifty advanced 40 points to trade at 8,067.
In the broader markets, the smallcap index gained 0.7% and the midcap index edged higher by 0.5% almost in line with the benchmark index.
However, there was some profit booking in pockets like banks, health care and power with the respective indices down 0.1-0.3%.
Dr Reddys, Bharti Airtel, BHEL, Sun Pharma and GAIL down 0.7-2% were the top losers.
Among the gainers of the hour were Hindalco, Tata Motors, M&M, Tata Steel, Infosys, RIL and Hero MotoCorp up 1.5-4.5%.
In individual names, Eveready Industries surged 6% to Rs 125, extending its 19% rally in past seven trading sessions, after the company said its promoters increased their stake in the company through open market.
Oriental Bank of Commerce slipped nearly 4% at Rs 268 after the state-owned bank registered an increase in non-performing assets during the second quarter ended September 30, 2014.
Berger Paints India surged 6% to Rs 408 after the company said its board will consider sub-division of equity shares of the company of face value of Rs 2 each into Re 1 each.
The market breadth remains positive on the BSE. 1517 stocks advanced while 1234 stocks declined.
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(Updated at 1330 hrs)
Benchmark share indices continued to trade firm in late morning trades led by index heavyweights Reliance Industries and Infosys.
At 11:40AM, the 30-share Sensex was up 156 points at 27,037 and the 50-share Nifty was up 40 points at 8,067.
The Indian rupee was trading higher at Rs 61.30 compared to previous close of Rs 61.32 ahead of the Fed meet outcome.
Asian markets were trading higher tracking overnight gains in US stocks on the back of robust corporate earnings. Japanese were the top gainers in the region with the Nikkei up 1.4%. Shares in China were also trading firm with Shanghai Composite was up 1.3% while Straits Times was up 0.3% and the Hang Seng surged 1.3%.
BSE Auto index was the top sectoral gainer up 1.5% followed by IT, Oil and Gas among others.
Tata Motors extended gains and was up 3% followed by M&M which rose 2.4%.
Hero MotoCorp was up 1.3% after the RBI allowed hike in FII shareholding in the company upto 49%.
Maruti Suzuki was marginally up on launching the new version of its bestseller Swift which is 10% more fuel efficient.
Cipla has gained 1.3% followed by Dr Reddy’s Lab which has gained close to 1% ahead of its quarter earnings to be released later today. Sun Pharma has pared its early gains and is down around 0.1%.
Tata Steel is up around 1.6% followed by Hindalco with gain of around 1.3% while Sesa Sterlite is under pressure ahead of the release of its quarter earnings later today and is down around 0.3%.
Infosys has gained 1.3% followed by TCS and Wipro with gains of 0.4-0.6% each.
Oil & gas shares were also trading firm. ONGC was up 0.6% followed by Reliance with a gain of around 1.4%.
Among other shares, IL&FS Engineering and Construction Company has surged 12% to Rs 69.30 on BSE after the company said it has bagged a contract worth Rs 179.84 crore for development of multipurpose terminal berth at Dighi Port.
CCL Products zoomed on the back of strong second quarter earnings aided by Vietnam operations and encouraging growth forecast for the next three years.
In the broader market, the BSE Mid-cap and Small-cap indices were up 0.6% each.
Market breadth was strong with 1,473 gainers and 997 losers on the BSE.
