Nifty trades higher; All sectoral indices in green

The Nifty was trading higher at around 5850 levels. All sectoral indices were trading in green. Strong buying was seen in capital goods, auto, IT, bankex, FMCG and power stocks. Reliance, Infosys, TCS, ICICI Bank, ITC and HDFC were positive contributors to the bourses.

At 13.12 pm, the Sensex was up 246.37 points or 1.28% at 19508.91, and the Nifty was up 73.95 points or 1.28% at 5859.65. Markets breadth was positive, about 1825 shares have advanced, 964 shares declined, and 841 shares are unchanged.  Mark Mobius of Templeton Emerging Markets Group said that Indian market is showing signs of investors returning to India once again. He is optimistic that India may see new highs by year-end. Mobius warns that lack of government action may pose a big risk to India.