Tata Steel has hit a 52-week high of Rs 1218.45, up 3 per cent, on the BSE
The domestic stock markets have sustained their gains in afternoon trading on the back of favourable global cues. At 2:18 pm, the BSE Sensex was at 49,583.45, higher by 375.75 points or 0.76 per cent and the NSE Nifty was at 14,957.10, up 134.20 points or 0.91 per cent. The broader markets are also trading strong, with the BSE Midcap and BSE Smallcap indices gaining 0.9 per cent and 1.1 per cent respectively.
Stocks in Asia rose on Monday amid speculation that interest rates will remain low for an extended period due to the receding risk of a rapid acceleration in inflation, while oil prices jumped after a cyber attack on a U.S. pipeline operator unnerved markets. Futures for Japan s Nikkei rose 0.03 per cent.
Nifty Midcap 100 index rose 0.9 per cent and Nifty Smallcap 100 index rose 1.7 per cent.
The Indian equity benchmarks extended gains in noon deals led by gains in rate sensitive banking, auto and financial services shares after the Reserve Bank of India kept repo rate unchanged at 4 per cent and maintained its accommodative stance. The benchmarks opened higher and extended gains after RBI s monetary policy decision. The Sensex rose as much as 699 points and Nifty 50 index climbed above its important psychological level of 14,850.
As of 1:17 pm, the Sensex was up 668 points or 1.36 per cent to 49,867 and Nifty 50 index rose 190 points or 1.29 per cent to 14,873.