IT, metals lead market gains

The key benchmark indices were trading higher in the afternoon deals today. The Sensex was up 128 points at 16,824 levels and the Nifty rose 39 points to 4,991.

While IT and metal stocks advanced, realty counters were under some pressure. The BSE IT index was up 1.6 per cent and the metal index rose 1.2 per cent.

Among the Sensex stocks, TCS led the gainers. The stock rose 2.6 per cent. Maruti Suzuki, Tata Steel and Infosys were the other major gainers in the group, up over 1.6 per cent each.

JP Associates, however, was the biggest loser in the pack. The stock was trading down 2.4 per cent.

Asian markets were mostly lower on Friday amid investor uncertainty about the global outlook after Wall Street fell on weak energy demand.

Markets in Tokyo, Shanghai and Seoul declined, while Hong Kong and Taipei traded slightly higher after major U.S. indexes slid by about 1 percent overnight.

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