The benchmark indices have moved up further, as shares of oil & gas, telecom, banking, technology, realty, capital goods and power companies are being supportive. Realty stocks have surged, BSE Realty Index rose 6%.
Leading contributors in this gain are ONGC, Reliance Industries, Bharti Airtel, NTPC, TCS, SBI, ICICI Bank, DLF, Reliance Communication, SAIL and BHEL.
The Sensex went up 156 points, to 9,247 and the Nifty gained 51 points at 2,831, at 10:42 hours IST. BSE Midcap and Small cap indices rose over 1%.
There is huge upmove seen in realty stocks; Orbit Corporation, Puravankara and Kolte-Patil Developers shot up 57%, 47% and 15%, respectively, as there is news that these companies haven't pledged any shares.
Parsvnath, Peninsula Land and Ansal Properties gained 15-20%. Omaxe, Mahindra Life, Sobha Developer, Unitech, HDIL, Indiabulls Real and DLF rose 3-9%.
BSE Oil & Gas, Bankex, Metal, Power, Capital Goods, Auto and Teck indices gained 1.5-2%.
Market breadth is positive due to broader indices; about 1512 shares have advanced while 1262 shares declined. Nearly 223 shares are unchanged.
On the global front, Asian markets are trading higher. Shanghai and Taiwan went up 2%. Hang Seng, Nikkei and Kospi rose over 1%. Straits Times is flat.
Markets @ 9:56 am : Mkts bounce back on positive global cues
The benchmark indices have bounced back on account of positive global cues. US Treasury Secretary, Geithner is likely to unveil second stimulus package on Monday. Buying is seen in metal, auto, telecom, banking, oil & gas, capital goods and shipping stocks. However, there is still some volatility in the indices.
At 9:56 am, the Sensex went up 120 points, to 9,211 and the Nifty gained 37 points at 2,817. CNX Midcap rose 28 points, to 3,296.
ABB, Unitech, SAIL, Hindalco, Reliance Infrastructure, Tata Motors, Wipro, ICICI Bank, HCL Tech, Tata Steel, Reliance Capital, Reliance Industires, ONGC, Ranbaxy, L&T and Bharti are gainers in early trade.
Sterlite Industries is the loser.
Mercator Lines went up another 5%, after huge surge on Thursday, as Baltic Dry Index was up 14%.
Asian markets have opened strong. Taiwan went up 3% and Nikkei up 2.5%. Hang Seng, Kospi and Shanghai gained 2% each. Straits Times went up 1%.
US markets ended higher as Geithner is preparing to unveil stimulus package on Monday. Senate Banking Chairman hinted on changes in accounting rule which led to contagion in the financial sector.
Baltic Dry Index gained 13.8% at 1498. Crude oil ended up nearly 2% at around $41/bbl.
Gold was up nearly 1% at around $915/ounce and Silver gained 2% at around $12.75/ounce.
Dow Jones ended higher by 106 points or 1.34% at 8063, which recovered 220 points from days low of 7,845. Nasdaq was up 32 points or 2% at 1,546 and S&P 500 was up 13.5 points or 1.6% at 846.
