Markets have gained further from the early highs as technology and pharma stocks have built on their gains. Other gainers from early trades are maintaining their levels with no hint of profit booking.
The Sensex is trading higher by 200 points at 11480 at 01.10 PM. The index saw a new lifetime high of 11484.
The Nifty is trading higher by 51 points at 3453, after touching a new high of 3455.
Grasim has surged in early afternoon trades and is now the biggest gainer among index stocks. The stock has added over 4 per cent.
Pharma stocks are finding considerable strength today, led by Glaxo. The stock has added over 4 per cent while Cipla is maintaining its gains of close to 3.5 per cent. Dr. Reddy's has rallied around 2 per cent.
Reliance Industries is maintaining its gains after the company confirmed that some of the global oil companies have approached with proposals for cooperation. The company said these proposals are being studied. The stock is now trading with gains of over 3.5 per cent.
Infosys has gained further and is now trading nearly 4 per cent higher. Satyam has added nearly 2.5 per cent while TCS is trading higher by more than a per cent.
Auto stocks are holding firm with Maruti and Tata Motors leading the pack with gains of close to 3 per cent each.
ICICI Bank is trading firm with gains of over 2.5 per cent while SBI has added close to a per cent.
Steel stocks SAIL and Tata Steel are trading more than a per cent each higher. Most steel companies have announced price hikes.
Tata Chemicals, IPCL and ABB are among the other gainers.
Among the four losers in 50 Nifty stocks, three are from the financial sector. HDFC and HDFC Bank have lost close to a per cent each. PNB and HLL are the other losers.
Mid-caps have also built on their early gains and the index has surged nearly 2 per cent. Market breadth remains highly positive.
Solarex, which got listed on the exchanges today, is now trading at Rs265.
Vakrangee Software, which got listed on the NSE today, is holding on to its gains of 23 per cent. The stock was already listed on the BSE.
FCL Technologies, Media Video and Kabra Extrusion are among the major gainers in mid-caps.
Calsoft, Triveni Engineering and Centurion Bank are among the mid-cap losers.