Helped by strong gains in Reliance Industries and ICICI Bank, the markets have built up strong gains in early afternoon trades. Other Asian markets are mostly negative while Europe has had a mixed opening.

Sensex is trading higher by 133 points at 13270 at 01.10 PM.

Nifty is now trading higher by 35 points at 3832.

Reliance Industries has made a major up move and is trading more than 2 per cent higher

ICICI Bank has rallied more than 3 per cent and is scaling new lifetime highs while HDFC Bank is holding on to gains of more than 2 per cent

IPCL and Sun Pharma are the best performers among index stocks with gains of well over 3.5 per cent each

Siemens has added nearly 3 per cent on expectations of good annual results

Dr Reddy's has made a fresh up move and is trading nearly 2.5 per cent higher

Reliance Energy is holding on to gains of over 3 per cent

BHEL and HCL Tech are the other major gainers among index stocks

Oil marketing stocks have slipped further after the weak opening. Both BPCL and HPCL have lost close to 2.5 per cent each.

Cipla remains weak by more than a per cent

Satyam has come off its lows, but is still down more than 0.5 per cent

Maruti has shed another 0.5 per cent after yesterday's 3 per cent fall. Bajaj Auto is sustaining the down trend and has lost nearly 0.5 per cent

ITC and Dabur remain weak by around 0.5 per cent each

Gail India and HDFC are the other losers

Mid-caps and small caps have also gained further in early afternoon trades. The NSE mid-cap index is now trading with gains of nearly 0.6 per cent. BSE mid-cap has gained nearly 0.85 per cent and the small-cap index is trading more than 0.7 per cent higher. Market breadth on the NSE has improved in early afternoon trades with more than 2 stocks advancing for every declining stock.

Blue Dart has come off its highs but is holding on to gains of nearly 13.5 per cent. The open offer by DHL for Blue Dart is set to open tomorrow

IndiaBulls is holding on to gains of nearly 9 per cent. TV Today is another prominent mid-cap gainer, having added nearly 7.5 per cent

Amar Remedies, Khaitan Electricals, Ind-Swift Limited, greaves Cotton, ICIL, Man Industries and Pratibha Industries are among the major mid-cap gainers.

GTL Infrastructure, which got listed yesterday, remains weak by 8 per cent. Shyam Telecom, which saw a spectacular surge after re-listing, is also down more than 8 per cent

Nova Petro, Dhampur Sugar, Sirpur Paper, Jaybharat Maruti, Godrej Industries and Dharani Sugar are the major mid-cap losers.