Nifty above 5200 on global cues: RIL, ICICI Bank up

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The benchmark Nifty opened the day on a strong note and continued Tuesday's upmove further. Buying was seen across all the sectors, but that was not aggresive. Heavyweights like Reliance, ICICI Bank, Bharti, L&T, HDFC and DLF were leading scrips.

At 9:02 hours IST, the Nifty was trading at 5229, up 31 points and the Sensex was at 17487, up 104 points. 

The CNX Midcap gained 56 points at 7575 and the BSE Smallcap was up 43 points at 8512. About 634 shares advanced while 95 shares declined on the NSE.

Among the frontliners, DLF, ABB, Reliance Communications, Reliance Industries, Suzlon Energy, Idea Cellular, Jaiprakash Associates, L&T, Reliance Infrastructure, Reliance Capital, Hindalco, ICICI Bank and Axis Bank were gainers in the early trade.

However, BPCL and ITC were marginally weak.

Midcap & Smallcap space:

Hotel Leela and Indian Hotel were up 1.7-2.5%.

Neyveli Lignite gained 3%, the company is set to replace REC loan with cheaper loan from Bank of Baroda.

GMR Infra and Punj Lloyd went up 1.5%.

Ashok Leyland gained 2%.

However, Apollo Tyres was down 0.7% and NMDC lost 0.5%.

Balrampur Chini and Shree Renuka Sugar were down over 1%.

Global cues:

Asian markets were trading higher. Kospi and Taiwan Weighted gained 1% each. Shanghai and Hang Seng went up 0.8% each. Jakarta rallied 2%. Nikkei was up 0.7% and Straits Times up 0.3%.