Markets are holding on to their early gains and there are no signs of profit booking so far. Asian markets have gained further with Japan rallying 2.5 per cent. Europe has opened with good gains.

Sensex is trading higher by 102 points at 12423 at 01.10 PM.

Nifty is now trading higher by 26 points at 3598.

HDFC remains the best performer among index stocks, with gains of close to 2 per cent. ICICI Bank is trading more than 1.5 per cent higher.

Reliance Energy is a major gainer in early afternoon trades and is trading almost 2 per cent higher. Tata Power is holding on to gains of over 1.5 per cent.

Tata Steel has picked up strength and has added more than 1.5 per cent. Zee Tele is another stock which has added over 1.5 per cent.

Among capital goods stocks, Siemens is holding on to gains of nearly 2 per cent while Suzlon is still up more than 1.5 per cent. BHEL and L&T have added close to 0.5 per cent each.

ITC has gained further after a positive start and is trading nearly 2 per cent higher.

HCL Tech remains the best performing tech stock with gains of more than 1.5 per cent.

Among index heavies, Reliance Industries is up more than 0.5 per cent while ONGC is trading nearly 0.5 per cent higher.

There are only four stocks among Nifty constituents which are trading with losses. Nalco remains weak by nearly 0.5 per cent while Hero Honda has also lost almost 0.5 per cent.

Bharti and Wipro are trading with very marginal losses.

Mid-caps and small caps are also holding on to their early gains. The NSE mid-cap index is now trading with gains of nearly 1.1 per cent. BSE mid-cap and small-cap indices are trading with gains of around 0.95 per cent each. Market breadth on the NSE remains very positive with nearly three stocks advancing for every declining stock.

HOV Services, which listed on the exchanges today, remains weak and is now trading with losses of over 7 per cent at Rs185.

Rama Newsprint continues to be locked in the 20 per cent upper circuit.

Carborundum Universal, Bindal Agro, Sterling Biotech, Hikal, Astra Microwave, Dhanalakshmi Bank, Hyderabad Industries, Hikal, Prime Securities and Binani Industries are among the major mid-cap gainers.

Navneet Publications, Chemfab Alkalies, Tips Industries, Sandesh, Khaitan Electricals and Softpro Solutions are the major mid-cap losers.