Noon: Markets strengthen further; Nifty touches 5,000 mark

Noon: Markets strengthen further; Nifty touches 5,000 mark

New Delhi: Domestic markets gains further strength with NSE Nifty touching the psychological mark of 5,000 on account of strong buying support across the sectoral indices on the back of firm Asian markets and rally in the US stocks due to strong economic data.

Most of the sectoral indices are trading with decent gains while oil & gas index remains out of favour, trading in the negative territory. Leading gains are technology, consumer durables, IT and capital goods, which are trading with gains of more than 1% each.

The US market surged on the back of rise in industrial production for the second straight month to 0.8% in August 2009 and also weakness in dollar added to the sentiment.

Asian Markets also rallied to touch their highest level in 13 months today due to better economic data that raised hopes of strengthening of global economic recovery.

At 11:33am, the 30-share BSE Sensex was at 16,761.57 up by 84.53 points and the 50-share NSE Nifty was at 4,989.55 up by 31.15 points.

Gainers from the BSE Pack are ACC surged by 4.63% to Rs835.80, along with Bharti Airtel by 3.67% to Rs435.40, Tata Power by 2.55% to Rs1,338.10, Jaiprakash Associates by 2.55% to Rs245.65, Reliance Communication by 1.95% at Rs314.20, and SBI by 1.91% at Rs2,129.50.

Top gainers from the NSE was HCL Tech increased by 5.15% at Rs338.10 along with Bharti Airtel by 4.10% at Rs437.10, ACC by 3.74% at Rs831.10, Tata Power by 2.62% at Rs1,342.