Banks, tech, oil & gas drive Nifty above 5800

The benchmark Sensex added more than 250 points in the afternoon trade and shrugged off trial court order on 2G case. The rally was led by buying across sectors at 14:30 hours - TCS was the leading star, with rising more than 4%.

Heavyweights ONGC, Wipro, SBI, NTPC, ICICI Bank, Bharti, ITC and HDFC gained 1-2%. HCL Tech extended its upmove - rallied 9% after the 17% rise in third quarter net profit of Rs 468 crore.

Infosys, BHEL and Reliance Industries were up 0.8% each. M&M and Tata Motors were other biggest gainers, with gaining 5.5% & 3.5%, respectively.

Metal companies' shares too were helping the markets - Tata Steel, Jindal Steel, SAIL, Hindalco and Sterlite rallied 2-3%. HUL, Kotak Mahindra Bank and DLF went up 2%.

The 30-share BSE Sensex was trading at 19,427, up 306 points and the 50-share NSE Nifty went up 95 points to 5,836.

Global cues were quite supportive today - European markets like France's CAC, Germany's DAX and Britain's FTSE were trading about 2% higher. US index futures too gained 1%.

Anil Dhirubhai Ambani Group companies' shares also recovered - Reliance Power and Reliance Capital were flat. Reliance Infrastructure gained 0.5% but Reliance Communications remains down 3%.

Hero Honda was down 2% and L&T was marginally in the red.

In midcap space, BF Utilities, Triveni Engg, Jubilant Foodworks, Techno Electric and Trent rallied 6-10%. However, DB Realty, IRB Infra, Den Networks, Nava Bharat and Petronet LNG lost 2-8%.

In smallcap space Subex, Lloyds Metals, JVL Agro, Nouveau Multi and Gujarat Ambuja Exports jumped 9-12%. However, Atlanta, Prabhav Industries, Kama Holdings, Ontrack Systems and IT People slipped 4-10%.

About 1924 shares advanced as against 974 shares declined on Bombay Stock Exchange.

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Nifty erases some gains post trial court order on 2G

The 30-share BSE Sensex erased about 100 points from day's high at 13:40 hours after the Trial Court order. Anil Dhirubhai Ambani Group companies' shares took beating - Reliance Communications plunged 4%. Reliance Capital, Reliance Capital and Reliance Power were down 1.5%.

Trial court has rejected bail to 5 accused in 2G case, which are Sanjay Chandra, Vinod Goenka and 3 Reliance ADAG Executives. ADAG executives are Gautam Doshi, Hari Nair and Surendra Pipara.

Hero Honda has been top loser since morning, with falling 3% as it goes ex-dividend today (Rs 70 per share). L&T too were putting a bit of pressure - was down nearly 1%.

However, technology, financial, metal, auto (barring Hero Honda) and realty companies' shares continued to support the markets. Heavyweights ONGC, Bharti and NTPC too were on buyers' radar.

Not only Asian markets witnessed rally but also European markets followed the same trend. France's CAC, Germany's DAX and Britain's FTSE were trading 1.5% higher.

The 30-share BSE Sensex was trading at 19,258, up 136 points and the 50-share NSE Nifty gained 45 points at 5,786.

Broader indices too came off a bit from day's high - the BSE Midcap and Smallcap indices were up 0.8%. About 923 shares advanced as against 348 shares declined on National Stock Exchange.

In midcap space, BF Utilities, Techno Electric, Triveni Engg, Blue Dart and Manappuram gained 5-10%.

However, DB Realty, Den Networks, IRB Infra, Glodyne Techno and Petronet LNG were down 2-8%.

In smallcap space, Subex, JVL Agro, C Mahendra Exports, Excel Crop Care and JB Chemicals jumped 9-10%.

However, Atlanta, Hatsun Agro, IT People, Ester Inds and Kama Holdings slipped 4-10%.

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Sensex trades higher; realty, IT, auto, banks gain

The BSE Sensex was trading higher as strong buying was seen in realty, IT, auto, metal, banking and oil & gas stocks. The broader indices midcap and smallcap were up over 1% each.

Stocks like Reliance, Infosys, ICICI Bank, HDFC and HDFC Bank were positive contributors to the Sensex while ITC, L&T, Hero Honda, Cipla and Reliance Comm were negative contributors.

The trial court has rejected bail to five accused in the 2G case. These include Sanjay Chandra, Vinod Goenka along with three Reliance ADAG executives