Mumbai: Key indices revved up after a sedate start Wednesday, with the Sensex quoting 171 points up at 19426 in noon trade. The Nifty was up 47 points at 5903. Brokers said the surge could have to do with short covering of positions ahead of derivatives expiry on Thursday.
Bajaj Finserv, Idea Cellular, Bharti Airtel and HDIL were the prominent gainers, up around 3 percent each. Capital goods, metal and realty shares were among the best performers at this hour, while FMCG and IT shares lagged. Brokers said the renewed buying interest in capital goods shares could be in anticipation of the sector recovering in 2013.
"Last year was one of those years when expectations for growth were at rock-bottom and even moderate growth prompted strong stock performances leading investors to ask whether profits should be taken. We believe not, as we expect growth to be stronger in CY13 over CY12, underpinning strong investment cases for L&T, Ultratech, Shree Cement," brokerage house Deutsche Bank said in its report on the sector last week.
Shares of Credit Analysis and Research were up 23 per cent over its issue price at Rs 927 on Day One of listing.
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