IT, private banks, infra push Sensex higher

The benchmark Nifty continued its upmove for the fourth consecutive session today and was marching up towards the 5600 mark, aided a support from technology, infrastructure, FMCG, metal, financial and realty companies' shares. Heavyweights Reliance Industries, ONGC and Bharti Airtel too were quite supportive with moderate gains.

Indian markets have been taking cues from global markets. Asian markets were trading 0.5-1% higher and the US markets ended up 0.7-1.4% on Thursday on good earnings expectations and on hopes of economic recovery.

Even the London Brent crude has been stabilised around USD 115-116 a barrel and the NYMEX crude at around USD 104-105 a barrel.

Manoj Singla, managing director and co-head (product) at Religare Capital Markets said crude oil prices need to come down for a sustainable market rally.