After belling the day on a strong note at 8,956.30, up 92.48 points, the Sensex keep on extending its gains on the back of steady buying in metal, banking and realty stocks.

Buying interest has emerged across the board with realty, metal and banking stocks leading the gains.

BSE Midcap and Smallcap index gained 2.63% and 2.16% respectively.

R. Balakrishnan, an investment analyst said, “At 8000 levels, the markets seem to have formed a bottom. On the macroeconomic level, the government’s fiscal deficit is a huge cause for concern. Markets are eyeing the next quarter results and the election outcome as well.”

At 10:59 a.m., the 30-share index Sensex gained 192.12 points (2.17%) at 9,055.94 after hitting a high of 9,076.64 and a low of 8,956.30.

Meanwhile the broad based Nifty stood at 2,818.15, up 60.70 points, after touching a high of 2,821.10 and a low of 2,752.25.

Overall market breadth was positive with 1,334 posted gains, 488 registered losses while 60 remained unchanged.

The top gainers in the 30-share index were Tata Motors (6.76%), Sterlite Industries (India) (5.99%), Hindalco Industries (5.39%), ICICI Bank (5.01%), Reliance Energy (4.80%), and Reliance Communications (4.47%).

On the other hand, the biggest losers in the Sensex were Tata Consultancy Services (2.05%), State Bank Of India(1.57%), Bharti Airtel (1.09%), Infosys Technologies (0.25%), Hindustan Unilever (0.21%), and Mahindra & Mahindra (0.20%)

Bharat Dalal, fund manager, Dawnay Day AV Financial Services said, “The Nifty is currently in the range of 2650-2850. It has resistance at 2810 and on the downside, support is at 2720.”

On global front, Asian stocks gained continuously for the fourth day, led by financial companies and auto manufacturers, after the Bank of Japan said it may offer subordinated loans to help banks replenish capital.

Japanese benchmark index Nikkei rose 6.13 points, or 0.08%, to trade at 7,955.26; Hong Kong`s Hang Seng index gained 197.30 points, or 1.53%, to trade at 13,075.39 and China`s Shanghai Composite climbed 12.01 points, or 0.54%, to trade at 2,230.34.