Market Update: Bulls charge ahead as midcaps rally; RIL, JSPL jump 2-4%, Avanti Feeds zooms 12%

The broader indices continue to trade on a positive note this Thursday afternooon with the Nifty trading higher by 111 points at 10,796 and the Sensex gained 375 points at 35,554.

The midcap index was up over 1 percent led by GMR Infra, IFCI, India Cements, JP Associates, Just Dial, Reliance Capital, SAIL and Unitech among others.

Bank Nifty was up 1 percent led by ICICI Bank which jumped 2 percent while Yes Bank, Federal Bank and Axis Bank were the other gainers.

Realty stocks are buzzing in the afternoon trade led by stocks like Unitech, Godrej Properties, HDIL, Prestige Estates and Oberoi Realty.

Oil & gas stocks are also up with Reliance Industries adding almost 2 percent followed by GAIL India and ONGC.

Among the media names, DEN Networks jumped over 3 percent while Network18, PVR and Sun TV Network were the other gainers.

Nifty metal jumped close to 2 percent led by JSPL which added 4 percent followed by Hindustan Copper, JSW Steel, Tata Steel and SAIL.

The top gainers among Nifty constituents were Vedanta, Tata Steel, Axis Bank, Reliance Industries and ICICI Bank.

The most actively traded stocks on the NSE were Future Retail, Just Dial, Vedanta, Tata Motors and Reliance Industries.

Some of the top gainers on BSE were Avanti Feeds, Time Technoplast, Tata Steel, INOX Wind and Godrej Properties.

Bajaj Finance, Infosys, Firstsource Solutions, GRUH Finance and JSW Steel were the few stocks that hit fresh 52-week highs in the afternoon trade.

On the other hand, 70 stocks hit a new 52-week low. These include Kwality, Pincon Spirit, Vakrangee, IVRCL, Manpasand Beverages and Videocon Industries among others.

The breadth of the market favoured advances, with 1388 stocks advancing, 306 declining and 360 remaining unchanged. On BSE, 1861 stocks advanced, 617 declined and 106 remained unchanged.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.