Markets opened gap up, extending Monday’s gains following firm cues from Asia as risk appetite for equities improved.
The Nifty was just close to reclaiming the 5,000 mark, the index touched a high of 4,998 in opening trades and was hovering around 4,969, up 62 points and the Sensex was at 16,665, up 174 points.
banking shares were among the top sectoral gainers on expectations that the Reserve Bank of India may press the pause button as the Federal Reserve did not introduce another stimulus that could have propped up commodity prices. Prominent gainers were Federal Bank, Indusind Bank and Yes Bank, up almost 3% each.
The midcap and the smallcap indices were up over 1% and 0.7% each.
ICICI Bank (up 2.5%), Infosys (up 2%) and Reliance Industries (up 1.6%) were the top gainers on the Sensex, contributing almost 90 points to the index. ONGC (down 3.1%) was the only stock which was trading in the red.