Sensex holds 26000; Mid, Smallcap outperform; BHEL plunges

The market continued to see strong upmove in noon trade with the Sensex holding 26000 level led by banking & financials, pharma and oil & gas stocks. The broader markets outperformed benchmarks as the BSE Midcap gained 1.6 percent and Smallcap rose 1.8 percent.

The Sensex climbed 289.51 points or 1.13 percent to 26004.17 and the Nifty rose 97.45 points or 1.25 percent to 7889.30. About 1727 shares have advanced against 576 shares declined on the Bombay Stock Exchange.

Housing finance company HDFC rally, up 6.4 percent and Cairn India, too, climbed further to 8 percent on short covering and value buying. Vedanta, Cipla, Lupin, Infosys, Ambuja Cements and Kotak Mahindra Bank jumped 2-5 percent.

However, BHEL plunged 4 percent followed by Bajaj Auto, Hero Motocorp and Yes Bank with 1-2 percent losses.

Asian markets traded in positive though they were off day’s high. Nikkei gained over 1 percent while Shanghai slipped into the red.

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