Markets at day's high; HDFC jumps 8%

Benchmark Indices have gained strength and continue to climb up the ladder on the back of the smart rally seen in index heavyweights such as HDFCand Reliance Inds.  The firm opening in the Europeanmarkets has further lifted the sentiments  Stock Market Trading Tips 

At 2:30 PM, the Sensex was up 524 points at 26,238 and the Nifty surged 162 points to 7,953

In the broader market, the BSE Mid-cap index was up 2.3% and the Small-cap index was up 2.5%. Market breadth continued to remain strong, with 1899 gainers and 674 losers on the BSEs.

RUPEE

The Indian currency has also strengthened against the greenback and is currently trading at Rs 65.96, up by 17  paise. The rally in the local equities also provided some support to the rupee.

SECTORS & STOCKS

Sectorally, the BSE Oil &Gas index has surged over 3% followed by BSE Healthcare and FMCG indices, up by 2%. No sector is trading in the negative terrain.

HDFC has zoomed nearly 8% on value buying after falling nearly 19% in the past one month. IIFL Securities has also maintained its “buy” rating on the stock Commodity Trading Tips

Vedanta’s bauxite refinery in Odisha that is heading towards a closure received a setback as the state government declared that it cannot immediately rescue the one million tonne refinery. However, the stock saw some value-buying today and it has soared 7% on the Sensex.

Oil has rebounded slightly taking positive cues from Asian markets. The OMCs as well as oil exploring and producing companies have gained between 2-7% on the Sensex. Index heavyweight Reliance Inds has surged nearly 3%.