Sensex rises 400 pts

The bulls continue to dominate the proceedings on the Dalal Street as market remain hopeful of positive economic measures in the near term. The key benchmark indices are on a north-bound journey since the start of trading session this morning. At 1.37 PM, the S&P BSE Sensex is trading at 27,912 up 405 points, while NSE Nifty is trading at 8,405 up 121 points. Private finance majors - HDFC, ICICI Bank and HDFC Bank collectively have contributed 175 points to the Sensex rally. The broader market also trading on a buoyant note, with the CNX Midcap and the Smallcap indices up over a per cent each at 12,756 and 5,386, respectively. The Bank Nifty has surged nearly 2 per cent to a fresh all-time high at 19,103. Jindal Steel is the major gainer in the Nifty 50 stocks, up nearly 5 per cent at Rs. 164. HDFC and Asian Paints have rallied nearly 4 per cent each to Rs. 1,167 and Rs. 777, respectively. BHEL, ICICI Bank and UltraTech Cement have advanced nearly 3 per cent each to Rs. 276, Rs. 362 and Rs. 2,736, respectively. Tata Motors and Axis Bank have gained around 2.5 per cent each at Rs. 511 and Rs. 515, respectively. Larsen & Toubro, ONGC and Grasim have added 2 per cent each. Infosys is up 1.8 per cent at Rs. 2,010. BPCL, however, is down over a per cent at Rs. 647. Mahindra & Mahindra and NMDC are the other notable losers