Benchmark indices surged in trade, following a solid rally by the US Dow Jones, which hit a new record. European markets were also trading higher, following the possibility of a expansion of monetary easing from the European Central Bank. However, it was a Dow Jones led rally, after the index hit a new high and closed at 19,549 points, which prompted a Asian rally.

Leading the gainers in trade today were Tata Group stocks like Tata Steel and Tata Motors. Heavyweight, ITC which has slumped in recent times saw smart gains and followed both the Tata group companies higher.

Banking stocks were up, but, were very much subdued with smaller gains as compared to the broader markets.

Among the stock that was hardest hit today was Crompton Greaves after reports that the share purchase agreement with Pauwels Spaco was mutually terminated.

HDFC was also in the limelight after reports that HDFC Life and Max Life are working on issues that were raised by the IRDA.

Software stocks also saw some good buying support with Infosys up almost 2 per cent in trade. Meanwhile, the rupee was last seen trading at 67.41, up 20 paise in trade.

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