Tracking the momentum, the 50-share Nifty index also managed to reclaim its crucial psychological level of 6700 levels, supported by gains in FMCG, Oil & gas, banks, realty and power stocks.
According to analysts, the market is likely to continue to move in a range and will show a decisive move after the election results on May 16.
At 09:50 a.m.; the 30-share index was at 22,575.24, up 130.12 points or 0.58 per cent. It touched a high of 22,602.71 and a low of 22,512.23 in trade today.
The Nifty was at 6,734.50, up 34.15 points or 0.35 per cent. It touched a high of 6,743.45 and a low of 6,719 in trade today.
"Since the swing's low of 6650 has held quite well, the probability of a bounce is still high as there are a few bullish probabilities that have still not been negated," said Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan.
"Till that happens we maintain our short-term bias up. The first probability is that the index may continue to form higher tops and higher bottoms," he added.
Mehta is of the view that the second one is that if the Nifty reverses from hereon it might just form the wave E of an expanding triangular pattern which will again take it to a fresh new high.
Here is a list of ten stocks which are in focus in today's trade:
Reliance Capital Ltd & MCX: Raising fresh concerns over Multi Commodity Exchange's "umbilical dependence" on Jignesh Shah- led FTIL, the bourse's main suitor Reliance Capital has asked regulator FMC to annul all agreements between MCX and its erstwhile promoter.
At 09:50 a.m.; Reliance Capital was trading 0.3 per cent higher at Rs 342.20 and MCX was up 1.3 per cent to Rs 532.50.
Idea Cellular & Bharti Airtel Ltd: GSM operators Idea Cellular, Vodafone India and Bharti Airtel have resumed offering third generation (3G) services on each-others networks, after the Telecom Disputes Settlement and Appellate Tribunal cleared the services last week.
At 09:50 a.m.; Idea Cellular was trading 1.5 per cent higher at Rs 132.40, Bharti Airtel was up 0.3 per cent to Rs 321.80.
Jet Airways Ltd: A change of government in India will not affect Etihad's equity holdings in Jet Airways, chief of the Gulf carrier has said, expressing "full confidence in the Indian process".
At 09:50 a.m.; the stock was trading 2 per cent higher at Rs 243.55.
United Bank of India: The troubled state-run United Bank of India has announced a dramatic turnaround in its fortunes as three months of focused recovery of bad loans and adjustment of software issues has helped it post a Rs 469 crore net profit after recording the worst earnings in the December quarter.
At 09:50 a.m.; the stock was trading 6.2 per cent higher at Rs 36.85.
Canara Bank: State-owned Canara Bank recorded 15.8 per cent decline in net profit at Rs 610.83 crore for the fourth quarter ended March, 2014.
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