Indian markets gained momentum as buying activity emerged across the board. FMCG, auto and metal stocks led the upmove while banking stocks were marginally in the red.
Bombay Stock Exchange's Sensex was at 18658.46, up 129.50 points or 0.70 per cent.The 30-share index hit a high of 18682.02 and low of 18485.42 in trade so far.
National Stock Exchange's Nifty was at 5586.15, up 35.05 points or 0.63 per cent.The broader index touched a high of 5592.60 and low of 5537.50 intraday.
The trend deciding level for the day is 18513 / 5547 levels.If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18659 - 18790 / 5591 - 5630 levels.However,if Nifty trades below 18513 / 5547 levels for the first half-an-hour of trade then it may correct up to 18383 - 18237 / 5507 - 5463 levels," said Angel Broking note.
BSE Midcap Index was up 0.45 per cent and BSE Smallcap Index moved 0.60 per cent higher.
Amongst the sectoral indices, BSE FMCG Index was up 1.90 per cent, BSE Auto Index moved 1 per cent higher and BSE Metal Index advanced 0.96 per cent.BSE Bankex was down 0.01 per cent.
Hindustan Unilever (4.52%), Reliance Communications (3.13%), Sterlite Industries (2.60%), NTPC (2.11%) and ITC (2.01%) were the major Sensex gainers.
Shares of Hindalco Industries moved higher after the company's fourth quarter net profit rose about 7 per cent to Rs 708 crore compared to Rs 664 crore last year.Revenue in the same period grew 27 per cent to Rs 6,846 crore.
The stock was at Rs 206.40, up 1.70 per cent on the BSE.It touched a high of Rs 207.55 and low of Rs 204.90 in trade so far.
HDFC Bank (-0.35%), Tata Power (-0.34%), ICICI Bank (-0.08%), Infosys Technologies (-0.03%) and HDFC (-0.01%) were the only losers.
Market breadth was positive on the BSE with 1264 gainers against 790 losers.
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