At 13.05 hrs IST, the markets were trading with some volatility. Buying interest was seen in capital goods, pharma, banks, oil & gas and FMCG stocks. However, metal, realty and auto stocks were under selling pressure. Reliance, ICICI Bank, L&T, Bharti Airtel and HDFC were the positive contributors to the Sensex. The BSE smallcap and midcap indices were up 1.45% and 0.35% respectively. The Sensex was up 27.98 points or 0.20% at 13764.52, and the Nifty down 16.95 points or 0.40% at 4193.95, at 13.05 hrs IST. The markets breadth was positive, about 1817 shares advanced, 966 shares declined, and 341 shares were unchanged. Sanju Verma of Institutional Business Proactive Universal Group said that the swift fall seen in 2008 and then the quick recovery has the trappings of a bear market rally. "However, the similarity to what we saw to what is a classic bear market rally ends there," she said. "There have been 14 bear markets in last four decades and the volumes during recovery were always tepid, but that’s not the case this time. We are now getting into a bull market," she said. “Three things that are needed for a bull market are present currently: scale, duration and breadth." Top gainers on the Sensex were L&T at Rs 1,280 up 3.01%, Reliance at Rs 2,163.50 up 2.21%, HDFC at Rs 2,135.20 up 1.71%, ICICI Bank at Rs 683.30 up 1.64% and HUL at Rs 233.15 up 1.28%. However, top losers on the Sensex were ONGC at Rs 1,026.30 down 4.5%, Sterlite Ind at Rs 508.65 down 4.19%, ACC at Rs 714 down 3.91%, DLF at Rs 330.70 down 3.29% and M&M at Rs 632 down 3.25%.

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