Indian stock markets are holding strong. At 12.30, the BSE Sensex was up by 150 points. The NSE Nifty touched 4900 with a gain of 63 points.

Among banking stocks, ICICI bank was strong at Rs 986 with a gain of Rs 21.30.

Reliance continues to be the market mover. Reliance announced that the company has found Oil reserves in KG basin. Reliance Energy and Reliance Petro were also holding strong.

BHEL is another stock which has gained more than 2.5% and was trading at Rs. 2,013.95.

Technical Analyst Ashwani Gujral has suggested investors to book some profits at current levels. The markets are holding strong, but selling from FIIs can lead to good amount of correction in stock markets.
Fertiliser stocks were looking strong as well. RCF, Chambal Fertilisers, GNFC and Deepak Fertilisers were all trading in the positive territory.

Indian stock markets are hovering around all time highs. The markets have been strong in the past week after the Fed-rate cut. The US dollar is falling against Indian currency. This is a major concern for Indian technology companies and exporters. Companies with business model based on outsourcing are seeing shrinking margins due to lower valuations of US currency.