Indian Stock markets gained further ground at 1 pm. The markets were trading lower an hour back as some selling was witnessed at higher levels. All sectors were trading higher today. While selling at higher levels has caused markets to slide, but some select counters are still holding strong.

Taipei  - Taiwan's stocks surged 4.57 per cent on Monday, bolstered by Wall Street's strong rally on Friday, dealers said.

The main Taiex index opened with a bang, tracking strong gains in Wall Street, as semiconductor and financial shares rose sharply. The upward trend continued all the way to the end of trading, with the local index soaring 193.26 points, or 4.57 per cent, to close at 4,418.33.

NSE Nifty gained further and has managed to gain 91 points compared to previous close. BSE Sensex gained 303 points.

Reliance Infra was major gainer with stock trading Rs 34 higher at Rs 566. The stock touched an intraday high of Rs 571.7 on BSE. Other gainers included HDFC, Reliance Communications, SBI, ITC, NTPC, L&T, Sterlite and ONGC.

Jim Walker of Asianomics feels that India will outperform. However, Jim expects Indian GDP to remain in range 3-5%. Jim also expects that there may be further sell off in Indian markets. The valuations will become attractive and will offer decent returns.

Tata Power touched an intraday high of Rs 705. The stock however declined from day’s high and was trading at 695.

Sydney  - A late surge on Wall Street helped Australian stocks to a 4-per-cent gain on Monday.

At 11am, Indian Stock markets were trading with decent gains. NSE Nifty was up by 76 points at 2790. BSE Sensex was at 9223 with a gain of 258 points. Among sectoral indices, BSE Auto was up by 61 point while BANKEX was up by 138 points at 4845.

Metal and Energy counters were trading strong as well. Almost all sector indices were trading in positive.

Among major gainers on NSE were Unitech, DLF, Suzlon Energy, Idea Cellular and HDFC.

Reliance Infra was trading 5.2% higher at 11 am. SAIL, Cairn India, GAIL, Grasim and Tata Steel were trading with a gain of over 5 per cent.

Among technology stocks, Wipro, Satyam Computers, Infosys Technologies and Tech Mahindra were trading strong.

Networth Stock Broking has suggested a strong resistance for NSE Nifty in 3000-3100 range. US Stock markets ended positive and Asian markets are expected to open strong on Monday. Indian Stock markets may also open with a wide upward gap on Monday.

As per figures from exchange, stocks worth Rs 4.5 crore were sold by FII in cash market on Friday. Domestic Institutional investors sold stocks worth Rs 184 crore in cash market.

Network Stock Broking analysts believe 2510 and 2492 as a strong support level for NSE Nifty.