Markets have resisted modest pressure in early afternoon trades and the indices have moved past their early highs. Lower inflation and sustained gains across Asian markets have helped the sentiment. European markets have opened with very strong gains.

Sensex is trading higher by 150 points at 13637 at 01.10 PM.

Nifty is now trading higher by 53 points at 3896.

Metal stocks continue to do well and are holding on to gains. SAIL is the best performer, trading nearly 4.5 per cent higher. Tata Steel is up more than 4 per cent while Hindalco is trading more than 3 per cent higher.

VSNL is still the best performer among index stocks, trading nearly 5 per cent higher. Among other telecom stocks, Reliance Communications has surged more than 3.5 per cent.

ONGC has moved up smartly and is supporting the indices considerably. The stock is trading more than 2.5 per cent higher. IPCL has gained well over 3 per cent.

ACC is the best performer among cement stocks, trading more than 3.5 per cent higher.

Among other gainers, Hero Honda has added nearly 3 per cent and HDFC is trading more than 2.5 per cent higher.

There are only four losers among index stocks. Zee Tele has lost nearly 2 per cent on the last day of trading as a combined entity. From Monday, the de-merged entities would be listed separately.

HPCL has slipped more than 1.5 per cent and ITC is down more than a per cent.

Tata Power continues to trade with modest losses.

Mid-caps and small caps are also holding on to their gains. The NSE mid-cap index is now trading with gains of a per cent. BSE mid-cap index is trading with gains of nearly 1.25 per cent and the BSE small-cap index has added 1.5 per cent. Market breadth on the NSE remains highly positive with nearly 3 stocks advancing for every declining stock.

Goldstone Technologies remains locked in the 10 per cent upper circuit. BPL Limited, Flex Industries, SSI, RPG Transmission and Hindustan Composites are also locked in 10 per cent upper circuits.

Pudumjee Pulp, Xpro India, Jagran Prakashan and Oil Country Tubular are among the major mid-cap gainers.

Ruchi Soya, Financial Technologies, BSL, McNally Bharat, IFB Agro, Hanung Toys, Nilkamal Plastics, TCI Finance, Indo-Rama Textiles and Onward Tech are the major mid-cap losers.