At 01:04 pm (IST), the Sensex was at 18,248, up 104 points or 0.58% over the last close. It had earlier been as high as 18,250 and as low as 18, 139. It opened at 18, 141
The Indian market has accelerated in the early afternoon trade after European markets climbed in early trading and Asian markets too shrugged off the disappointing US jobs data. Wall Street too recovered from session lows to close just marginally lower on Friday.
At 01:04 pm (IST), the Sensex was at 18,248, up 104 points or 0.58% over the last close. It had earlier been as high as 18,250 and as low as 18,139. It opened at 18,141.
On the other hand, the Nifty was up nearly 32 points at 5,472 after touching a high of 5,472 and a low of 5,433.
The BSE Small-Cap index and the BSE Mid-Cap index are trading up by 1% each.
In terms of sectors, Real Estate, Consumer Durables, Metals and Banking stocks are the clear winners on the BSE. Other notable gainers include Auto, Power, PSUs, Capital Goods, FMCG and Pharma. Oil & Gas and IT shares are in the red.
DLF, ICICI Bank, RCOM, Bharti Airtel, Jindal Steel, Hero Honda, Tata Motors, Tata Steel, Unitech, Power Grid and Hindalco are the notable gainers in the Sensex and Nifty.
HDFC Bank, Wipro, Cipla, M&M, Cairn India, GAIL, and Cipla are among the laggards in the Sensex and Nifty.
In European markets, the UK's FTSE 100 index rose 1.2% to 5,398.30, the German DAX index was up 1.1% to 6,327.88 and the French CAC-40 index climbed 1.4% to 3,768.61.
BP shares rose after it said that it believes static kill and cementing operations to stop oil flowing into the Gulf of Mexico have been successful.
Most Asian stocks rose, the dollar fell against emerging market currencies and commodity prices gained on growing expectations that the Federal Reserve will have to buy more bonds to support the flagging economy.
The MSCI Asia Pacific ex-Japan index rose to a fresh three-month high.
But the yen hovered within striking distance of a 15-year high against the struggling dollar, weighing heavily on shares in export-dependent Japan.
The Fed policymakers will meet on Tuesday and speculation has been rife that the recent spate of downbeat economic data, including the disappointing jobs report on Friday, will force the central bank to take bolder action to stimulate growth.
