At 14:12 hours IST, surge in rate sensitives, telecom, technology, FMCG and infrastructure stocks was helping the benchmark indices to trade strong. The Nifty was hovering around the 4350 mark and the Sensex around the 14650 level. On the global front, European markets were also supportive, up 0.5-0.8%.

The market breadth was positive; about 1854 shares advanced while 874 shares declined on the BSE. Nearly 433 shares were unchanged.

The Nifty was up 120 points, to 4,352 and the Sensex gained 415 points at 14,665. The broader indices were up 2% each. All sectoral indices were in the green.

In the largecaps, Bharti Airtel, Reliance Infrastructure, M&M, Axis Bank and ICICI Bank shot up 6% each. ITC, Infosys, TCS, HDFC, DLF, L&T, Wipro, HDFC Bank, Hero Honda, Maruti, SAIL and Tata Power were up 2-5%.

However, NTPC, GAIL, BPCL, Sterlite and Sun Pharma were only losers.

Reliance Industries, Satyam, Max India, Educomp Solutions and ICICI Bank were most active shares on the bourses.

In the midcap space, Deccan Chronicle, Exide Industries, Petronet LNG, Fortis Health and United Breweries were up 7-10%.

In the smallcap space, Himadri Chemical, Hexaware Tech, Ahluwalia, Whirlpool and JK Tyre gained 10-19%.

Corporate News

Reliance Infrastructure emerged lowest bidder for 52km Jaipur Reengus, NHAI road project.

Reliance Industries filed affidavit in SC.

In block deals: 1.27 crore shares of Max India changed hands on BSE, NSE at Rs 197/share, which was 5.5% equity of total). The stock was up 5%.

On the next page - see how Indian markets performed in the last couple of hours