After consolidating yesterday, the markets have resumed their rally in early trades. The Sensex has moved closer to the 12000 mark after an indifferent start. Weak trend in major Asian indices, despite a firm closing by US indices yesterday, has not yet affected sentiments.

Sensex opened at 11909 and touched a high of 11977. The index is trading higher by 69 points at 11974 at 11.10 AM.

Nifty opened at 3474 and touched a high of 3489. The index is now trading higher by 14 points at 3488.

Aluminium stocks are continuing the rally from yesterday afternoon. Nalco has added nearly 3 per cent and Hindalco is trading nearly 2 per cent higher.

Among steel stocks, Tata Steel and SAIL have added close to 1.5 per cent each.

Reliance Energy is the best performer among index stocks, trading nearly 3 per cent higher. The stock had gained yesterday as well on speculation about award of coal blocks and some other projects.

The decline in crude oil prices has helped HPCL to add nearly 2 per cent and BPCL has added more than 1.5 per cent.

Dr Reddy's is another major gainer, having added nearly 2 per cent.

Telecom stocks, VSNL and MTNL have added 1.5 per cent each. Reliance Communications has gained over a per cent.

ITC has recovered from the correction over the last couple of days and is trading nearly 2 per cent higher.

IPCL has also added nearly 2 per cent. Reliance Industries is trading 0.5 per cent higher.

Auto stocks Tata Motors and Maruti have added over a per cent each.
ONGC has corrected as crude oil prices continue to decline. The stock is now trading more than 0.5 per cent lower, limiting the gains on frontline indices.

HDFC is the worst performer among index stocks, trading nearly a per cent lower. HDFC Bank has lost nearly 0.5 per cent.

Sun Pharma is another major loser, trading nearly a per cent lower.

Tech stocks, HCL Tech and TCS are trading with modest losses.

Bharti Airtel and BHEL are the other losers.

Mid-caps and small caps are once again performing much better than the large caps as they extend the rally to the fourth day. A number of individual stocks are seeing high investor interest on news flows.

The NSE mid-cap index is now trading with gains of 0.9 per cent. BSE mid-cap index has added nearly 1.1 per cent and the small-cap index is trading 1.2 per cent higher. Market breadth on the NSE is highly positive with more than 3.5 stocks advancing for every declining stock.

Alembic Limited is the best performer among mid-cap stocks with gains of 12 per cent on reports that the value of Alembic Glass, which is planning to de-list its shares, is much higher than the floor price indicated for a reverse book building issue. Minority shareholders are reportedly planning to approach SEBI on the issue. Alembic holds a 4-per cent stake in Alembic Glass, which is locked in 5 per cent upper circuit.

TCI Finance, Cyber Media, Unitech, Munjal Auto, Premier, Emkay Stock, Lyka Labs, Simplex Infrastructure and Excel Industries are among the major mid-cap gainers.

Quintegra, Narmada Chematur, Sterling Tools and Financial Technologies are the major mid-cap losers.