The Indian markets were trading off the day's high post noon. The BSE Sensex was up 95 points or 0.54 per cent and was trading at 17,670 while the NSE Nifty gained 29 points or 0.56 per cent at 1.25 p.m.
The Nifty was trading at 5,298 having crossed the 5300 mark earlier. The 5254 mark remains a key support level for the Nifty.The FMCG sector saw profit booking and was the only one to decline. The gains were led by oil and gas stocks. The oil index rose 2.05 per cent. The broader markets saw buying interest with the BSE small cap index rising 0.85 per cent while the mid cap index rose 0.51 per cent. 60 per cent stocks advanced on the BSE indicating a positive breadth.
Reliance Comm gained 3.79 per cent while GTL infra 4.74 per cent. The company has reached an agreement with GTL Infra to sell its tower assets in Reliance Infratel. The deal size is worth Rs.50,000 crores in cash and share swap.ONGC, RIL and Reliance Infra gained more than a per cent on the Sensex. ITC, Jindal Steel and Maruti Suzuki were the main losers.
Oil marketing companies (OMC) stocks rose after the government decided to align the petrol prices to global crude. HPCL gained 7.44 per cent, IOC added 6.79 per cent while BPCL rose 2.75 per cent.
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