Markets have gained further from the strong opening and traders seem to have completely forgotten about Wednesday's crash. Sensex touched a new intra-day lifetime high of 10753 in early afternoon trades.

The Sensex is trading higher by 178 points at 10751 at 01.10 PM.

The Nifty saw a high of 3181 and is trading higher by 50 points at 3179.

Zee Tele is the biggest gainer among index stocks on a favourable court ruling on the implementation of CAS. The stock has gained close to 7 per cent.

MTNL is holding on to its early gains and is now trading higher by close to 4.5 per cent.

Among other telecom stocks, VSNL and Reliance Communication Ventures have added over 3 per cent each while Bharti has added close to 3 per cent.

Metal stocks have recovered in a major way in early afternoon trades, led by SAIL. The stock is trading with gains of close to 4 per cent. Tata steel has added close to 2.5 per cent.

Engineering stocks have sustained the up trend with ABB and L&T trading with gains of over 2 per cent while BHEL has added over a per cent.

Cement stocks are also holding firm with Gujarat Ambuja trading higher by over 3.5 per cent and ACC close to 3 per cent higher.

HDFC, OBC and M&M are among the other major gainers.

Nalco and HPCL are the only Nifty stocks which are trading lower.

Mid-caps index is holding on to its gains of close to 1.25 per cent. Market breadth remains highly positive.

KEC International, which got re-listed today, is trading at Rs428.

Gitanjali Jewels, another new listing today, continues to be weak and is now trading at Rs178, lower by close to 9 per cent from its issue price.

Reliance Natural Resources has built on its early gains and is now locked in the 10 per cent upper circuit. The stock has gained close to 60 per cent in the last 4 days.

Stocks of television companies and cable distributors are seeing strong gains after the court ruling on CAS. Hinduja TMT which controls the distribution network Siti Cable, TV 18 and UTV are among the major gainers.

FCI OEN, Nabharat Ferro Alloys and Rane Madras are among the major gainers in mid-caps.

Steel Strips Wheels, Mukand Engineers and Blow Plast are among the mid-cap losers.