The
Sensex gained 118.54 points at 25740.71 and the Nifty rose 38.50
points to 7826.60.
About
1476 shares have advanced, 556 shares declined, and 79 shares are
unchanged on the BSE.
The
market is holding early gains as the Sensex is up 154.10 points or
0.6 percent at 25776.27. The Nifty gains 45.60 points or 0.6 percent
at 7833.70. About 1272 shares have advanced, 360 shares declined, and
50 shares are unchanged.
SBI,
Vedanta, Axis Bank, Wipro and ONGC are top gainers whule BHEL, HUL,Tata Motors, GAIL and ICICI Bank are among laggards in the Sensex.
Harendra
Kumar of Elara Capital believes the market will see a bottoming out
in the next one month and one can buy a lot of select stocks in the
current market.
He
believes the foreign institutional inflows are expected to be
positive in the days to come. He suggests buying select midcap stocks
in the oil and gas and telecom space form a long-term point of view.
Crude
oil prices dipped after news top oil exporter Saudi Arabia sees no
need for a summit of producing countries' heads of state to defend
prices, partly offsetting the previous session's strong rally on
bullish gasoline demand.
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