Markets have extended their gains amid volatility with the Sensex and the Nifty crossing 18,400 mark and 5,600 levels, respectively. The upmove is supported by Capital Goods, Metal and Power stocks. At 11:15, the Sensex was up 84 points at 18,374 and the Nifty gained 26 points at 5,590 levels.
BSE Realty, Metal and Power indices have surged by nearly 2%. However, Consmuer Durable sector has declined by over 1%.
BHEL is the top Sensex gainer, up 4% on reports that the Cabinet Committee on Economic Affairs (CCEA) will impose import duty at the rate of 20% on the power generation equipment for projects above 1,000 megawatts (MW).
ONGC has rallied 4% on reports that the overseas investors have assured the government they would buy up the proposed 5% stake sale in the company.
The broader markets continue to outperform the benchmark indices. BSE Midcap and Smallcap indices have gained between 0.8-1.2%.