The Indian benchmark indices have extended the morning gains after the Nifty for the first time hit record high today. The index is up 80 points, trading above 11,551. The Sensex on the other hand jumped 324 points and is trading at 38,272.
At 12:15 hrs, Nifty infra is the outperforming all other indices led by Larsen & Toubro and Idea Cellular which jumped over 5 percent each followed by GMR Infra, Reliance Communications, IRB Infra and Voltas.
The Energy index is also up over 1 percent with gains from ONGC which spiked 3 percent followed by HPCL and Reliance Industries.
Metal stocks continues to shine with the index up 1.5 percent led by Welspun Corp which zoomed 6 percent while Tata Steel added 2 percent. The other gainers include Hindalco Industries, JSW Steel and Jindal Steel & Power.
Nifty pharma has also added 1 percent led by Cadila Healthcare and Divis Labs which jumped 4-5 percent followed by Glenmark Pharma, Aurobindo Pharma and GSK Pharma.
PSU banks are also trading on the positive side led by State Bank of India, Canara Bank, Andhra Bank, Bank of Baroda, Oriental Bank and Union Bank of India.
However, IT stocks are trading lower dragged by Infosys and KPIT Tech which are down 2 percent each while on the other hand, Tech Mahindra and Wipro added 1-2 percent.
Larsen & Toubro, up close to 6 percent ahead of its Board meet along with ONGC, Tata Motors, Tata Steel and Hero MotoCorp are the top gainers on the Nifty.
The most active stocks include Infosys, L&T, Reliance Industries, Sun Pharma and Yes Bank.
From the BSE midcap space, Petronet LNG jumped 5 percent while Federal Bank is the top loser, down 5 percent.
On the other hand, from the BSE smallcap space, HCC spikes 12 percent followed by Sandur Manganese, Mangalore Chemicals and Mawana Sugars. The top loser include Vadilal Industries which is down 11 percent.
The top BSE gainers are HCC, ELGI Equipments, PTC India Financial, Tata Steel and KPR Mills.
Bata India, Berger Paints, Britannia Industries, DHFL, Divis Labs, GSK Pharma, Godrej Consumer, Hindustan Unilever, Indiabulls Ventures, L&T Infotech, Mahindra & Mahindra, PAGE Industries and Yes Bank are some of the stocks which have hit new 52-week high in the afternoon trade on NSE.
The breadth of the market favoured advances, with 1037 stocks advancing, 646 declining and 398 remaining unchanged. On BSE, 1458 stocks advanced, 1048 declined and 143 remained unchanged.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.