Nifty trades above 4350; Rel Infra, ICICI Bk, Bharti surge

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At 15:05 hours IST, the markets were strong in trade led by buying across the all sectors. Banking, technology and telecom stocks were leading the rally from the front and kept the Nifty above the 4350 mark.

The Sensex rose 450 points, to 14,700 and the Nifty went up 132 points, to 4,363. The BSE Midcap was up 1.7% and the Smallcap Index gained 2%. The Nifty open interest put call ratio stood at 1.2.

On the sectoral front, Auto and Bank indices surged over 4%. IT and TECk indices went up 3.7% each. Realty, Metal, FMCG, Capital Goods and Power indices were up 2-2.5%. The Oil & Gas Index was flat.

The market breadth was in favour of advances; about 1818 shares advanced while 943 shares declined. Nearly 400 shares were unchanged.

In the largecaps, HCL Tech, Reliance Infrastructure, Reliance Capital, M&M, Hindalco, Jaiprakash Associates, Hero Honda and Tata Motors were top gainers, shot up 6-10%. Bharti Airtel was up 5% and ICICI Bank gained 7%.

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