(RTTNews) - Friday, the Indian market is trading sharply higher on the back of a firm trend in the rest of the Asian markets and due to expectations of a further fiscal boost in the forthcoming interim budget on Monday.

Stocks across the sectors are showing a firm trend. Metal, realty, capital goods and power stocks are leading the bounce back. The BSE Sensex opened at 9,541 and rose further in early trade. The index is now trading at the day’s high of 9,612, up 146 points or 1.55%, while the S&P CNX Nifty is trading at 2,939, up 1.60%.

Twenty-nine out of 30 Sensex stocks are trading in positive territory. However, Sun Pharma is bucking the rising trend, and is down 1.23%.

Among the major gainers, Jaiprakash Associates, Reliance Infrastructure and Mahindra & Mahindra are rising over 3% each, and Reliance Communication, Grasim Industries, Sterlite, Tata Steel, BHEL, State Bank of India, ICICI Bank, Reliance Industries, ACC and Larsen & Toubro are adding more than 2% each.

Second-line stocks are also receiving good support. On the BSE, the market breadth is extremely positive, with 1047 gainers compared to 368 stocks that are declining. The small-cap and the mid-cap indexes are rising around 1.3% each, and the broad-based BSE 500 index is moving up 1.51%.

Cement and Steel stocks are receiving widespread buying support on hopes of freight cuts ahead of an interim railway budget due later in the day.

Stocks of companies catering to Railway infrastructure, namely Titagarh Wagons is surging up 5.03%, Kalindee Rail Nirman is climbing 6.92% and Texmaco is rising nearly 7%.

Bosch is up 0.43% after the company said it is planning block closures for some products at its Bangalore plant to avoid unnecessary inventory buildup. Tata Communications is adding 2.42% after the company announced a $430 million strategic investment plan in the Asia Pacific region.

Reliance Industries is gaining 2.25% following reports that the company is tying up nearly $6 billion to develop nine satellite discoveries in the KG basin. ONGC is up 1.93% on reports that it could offer a 15-20% stake in its planned petrochemical project in western India to Gas Authority of India.

Bharat Heavy Electricals is moving up 2.45% on reports that the company along with National Hydroelectric Power Corporation plans to build the 2,400-megawatt Tamanti hydropower project in Myanmar.

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