Nifty above 5200 again; rupee appreciates 1.4%

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The market extended its gains, moving up towards day's high (touched in opening trade today). Oil & gas, metals, auto (four-wheeler), technology and telecom stocks were helping the Nifty to trade above the 5200 level, which was up 50.15 points to 5,208.45. Meanwhile, the Sensex gained 169 points at 17,245.94.

The Indian rupee appreciated by 0.72 paise to 49.34 a dollar.

Shares of Sterlite Industries, a part of London listed Vedanta, shot up nearly 6%. TCS, ONGC and Infosys were up 1.5-2.3%.

Reliance Industries and Tata Motors surged 4% each. L&T, Bharti Airtel and Tata Steel gained 3.5-3.8%.

Among financials stocks, ICICI Bank was up 0.6% while HDFC, HDFC Bank and SBI were down around 1%.

Shares of ITC, Bajaj Auto, BHEL, Hero Motocorp and DLF plunged 2-3%. FMCG major HUL lost more than a percent.

In the second line shares, Fortis Healthcare, Shree Renuka, Sintex Industries, Arvind and Muthoot Finance rallied 5-7% while Alstom Projects, GE Shipping, HDIL, Pantaloon Retail and WABCO India dropped 3-4%.

At 14:05 hours IST : Nifty holds on to morning gains; RIL, Bharti, Infosys lead

Consistent buying in index heavyweights Reliance, Infosys, Bharti Airtel helped the market to stay higher in afternoon trade. TCS, ONGC and L&T too were on buyers' radar. However, the fall in FMCG, realty and financials (barring ICICI Bank) capped the upside. The Sensex gained 109 points at 17,186.10 and the Nifty rose 33.6 points to 5,191.90.

For the short term, 5230-5250 is where the Nifty will see some resistance," Sudarshan Sukhani of s2analystics.com said in an exclusive interview to CNBC-TV18.

Shares of index heavyweight Reliance Industries shot up 3.5% today while ONGC gained just 1%.

Tata Motors and Sterlite Industries retained their top position on buyers' radar, rising 4% each. Bharti Airtel and Tata Steel gained 3-3.5%.

Shares of country's largest software services exporters Infosys and TCS were up 2% and 1.4%, respectively.

In the capital goods space, L&T moved up 0.9% while BHEL plunged 2.5% ahead of its third quarter numbers today.

However, ITC, HDFC Bank, HDFC and HUL were down nearly 2%. Shares of country's largest lender SBI fell over 1%; and DLF dropped over 3%.

Two-wheeler majors Bajaj Auto and Hero Motocorp were down 3.77% and 3%, respectively.

The market breadth was positive; about 1656 shares advanced while 1099 shares declined on the BSE.