Benchmarks broke out of narrow range and moved above psychological resistance levels after inflation for the month of November stood inline with expectations at 7.48 per cent from a year earlier. The figures are lowest since January 2010.
According to analysts, the Reserve Bank of India may leave interest rates unchanged at its policy meeting on Thursday. This boosted market sentiments and all sectoral indices barring auto were in the positive terrain.
At 11:48 am; Bombay Stock Exchanges Sensex was at 19809.60, up 117.82 points or 0.60 per cent. The index touched a high of 19811.73 and low of 19621.41 in trade so far.
National Stock Exchanges Nifty was at 5,937.20, up 29.55 points or 0.50 per cent. The index touched a high of 5942.65 and low of 5888.75 intraday.
BSE Midcap Index was up 1.26 per cent and BSE Smallcap Index gained 1.28 per cent.
Amongst sectoral indices, BSE Oil&gas Index was up 1.29 per cent, BSE Metal Index moved 1.14 per cent higher and BSE PSU Index advanced 0.94 per cent. BSE Auto Index was down 0.19 per cent.
Hero Honda (-3.06%), M&M (-1.52%), Jindal Steel (-1.36%), Bajaj Auto (-0.62%) and HUL (-0.40%) were the top Sensex losers.
Sterlite Industries (2.79%), Tata Motors (1.74%), Tata Steel (1.46%), L&T (1.39%), and RIL (1.27%) were amongst the top gainers.
Market breadth was positive on the BSE with 1783 advances against 791 declines.