The market continued to trade higher amid volatility, backed by positive global cues. Today's rebound after correction in previous session indicated that the market is not so much worried due to rising crude oil prices.
The Nifty was trading above 10,550 levels while the broader markets also traded in line with frontlines, with the Nifty Midcap index rising 0.4 percent.
Oil retailers IOC, HPCL and BPCL were down up to 5 percent after Brent crude hit USD 74 a barrel, the highest level since late 2014The Nifty Metal index extended gains, rising 4 percent on rising in global metal prices while the Nifty IT index continued to trade 1 percent higher on depreciation in rupee.
The market continued to trade higher, with the Sensex rising around 100 points despite Brent crude futures hit USD 74 a barrel, the highest level since late 2014. Positive global trend boosted sentiment.
Metals stocks extended rally, with the Nifty Metal index rising 3.5 percent on positive global commodities prices. Hindustan Copper, Nalco, Vedanta, Hindalco, SAIL, Jindal Steel and Tata Steel gained up to 10 percent.
IT stocks also gained strength as the Nifty IT index was up 1 percent following further 10 paise depreciation in the rupee.
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