The Indian stock market is trading on a positive note but is of the high point of the day with Sensex up 126.04 points or 0.31 percent at 40947.34, and the Nifty gained 42.30 points or 0.35 percent at 12080.
Nifty Auto is the outperforming sector, up over a percent after reports suggested that there could be approval for scrappage policy in today's meeting.
The top gainers included Bharat Forge, Tata Motors, Maruti Suzuki, TVS Motor Company, Ashok Leyland, Mahindra & Mahindra and Bajaj Auto.
Selective metal stocks are also shining led by Vedanta, Hindustan Zinc, NMDC, Hindalco Industries, JSW Steel and Coal India.
From the IT space, the top gainers are HCL Technologies, Wipro, Infosys, Tata Consultancy Services, Mindtree and Tata Elxsi.
Nifty Infra is trading in the red dragged by Larsen & Toubro, DLF, Bharti Airtel, Bharti Infratel and Siemens among others.
The top gainers from Nifty index are YES Bank, Tata Motors, UPL, UltraTech Cement and Mahindra & Mahindra while the top losers included Cipla, Larsen & Toubro, ICICI Bank, Tata Steel and Bharti Infratel.
The most active stocks included YES Bank, ICICI Bank, Zee Entertainment, HDFC and State Bank of India.
Prestige Estates and Dr Reddy's Laboratories have hit new 52-week high on NSE while Gujarat Fluorochemicals and Mphasis
About 1050 shares have advanced, 924 shares declined, and 145 shares are unchanged.Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.