Markets are holding on to most of their early gains in afternoon trades as well. There are not many losers among index stocks, though the losers in morning trades have declined further. Asian markets continue to trade firm while Europe has opened with modest losses.
Sensex is trading higher by 134 points at 10814 at 01.10 PM.
Nifty is trading higher by 38 points at 3169.
HPCL has rallied in early afternoon trades and is the biggest gainer among index stocks, trading more than 4 per cent higher.
Among banking stocks, PNB has also gained strength following announcement of quarterly results, and is trading more than 4 per cent higher. ICICI Bank has added more than 3.5 per cent.
Suzlon Energy has gained strength and is trading more than 4 per cent higher. Among other engineering stocks, BHEL has added over 3.5 per cnet.
Satyam is holding on to its gains of close to 2.5 per cent while Wipro is trading more than 2.5 per cent higher.
Among other gainers in early trades, Tata Tea and Nalco continue to trade with gains of over 3 per cent each.
M&M remains firm by more than 2.5 per cent.
Jet Airways has lost further ground and continues to be the biggest loser among index stocks, trading nearly 1.5 per cent lower.
Grasim has also lost further and is now trading with losses of close to 1.5 per cent. Among other losers in morning trades, VSNL has lost over a per cent.
HLL has slipped, despite good numbers, and is now trading more than a per cent lower.
HDFC is another loser among early afternoon trades, trading more than a per cent lower.
Mid-caps and small stocks are also holding on to their gains in early afternoon trades. The NSE mid-cap index is now trading with gains of around 1.65 per cent. BSE mid-cap index is trading over 1.3 per cent and the small-cap index is trading with gains of around 1.85 per cent. Market breadth on the NSE is positive with nearly 6 stocks advancing for every declining stock.
R Systems, Blow Plast, Hindustan Motors, Jagran Prakashan, Gruh Finance, Monsanto India, IL&FS Investsmart, Hitachi Home, Havells India and Sivalik Global are among the major mid-cap gainers.
Titanor Components, Visual Soft, Vaibhav Gems, Ador Welding, Mangalam Cement, MRO Tek and Indus Ind Bank are the major mid-cap losers.