After opening strong, the markets have survived some profit booking at higher level in mid-morning trades. Both Sensex and Nifty are trading close to their morning highs.
The Sensex is trading higher by 202 points at 11439 at 01.10 PM.
The Nifty is trading higher by 51 points at 3397.
Technology stocks continue to remain form and the top three gainers among Nifty stocks are all from the technology sector.
HCL Technologies is leading the pack with gains of nearly 8.5 per cent. Satyam is trading nearly 7 per cent higher while Infosys is holding on to its gains of over 6.5 per cent.
TCS is holding on to its early gains of over 4 per cent while Wipro is trading 3.5 per cent higher.
Tata Steel has gained further and is now trading over 3.5 per cent higher. SAIL has added nearly 2.5 per cent.
Aluminium stocks have also gained further. Nalco has added close to 5.5 per cent while Hindalco is trading nearly 3 per cent higher. Hindustan Zinc is trading nearly 5 per cent higher while Sterlite Industries has added 1.5 per cent.
Cement stocks have given up a small part of their early gains. Gujarat Ambuja is trading nearly 3.5 per cent higher while ACC is higher by a per cent.
Telecom stocks have also given up part of their early gains. Reliance Communication is now trading nearly 3 per cent higher. MTNL is higher by only0.5 per cent.
The number of losers among index stocks has increased in afternoon trades. ONGC has lost further ground and has lost nearly 1.5 per cent.
Glaxo has given up a per cent while Sun Pharma has recovered part of its losses and is trading marginally lower. Dr. Reddy's is trading more than 0.5 per cent lower.
Jet Airways is continuing its weak trend from last week and has given up nearly 1.5 per cent.
PNB is trading nearly a per cent lower ahead of policy announcement from RBI tomorrow. SBI has given up all its early gains and is trading with modest losses.
BPCL, Bharti and VSNL are among the other losers.
Mid-caps have given up a small part of their early gains. The mid-cap index is trading nearly 1.2 per cent higher. Market breadth continues to be highly positive.
Sanwaria Agro, Ramco Systems and Essar Oil continue to be the major gainers in mid-caps.
Shivalik Global, Dharani Sugar and Sasken Communications are among the mid-cap losers.