Sensex, Nifty rangebound; Power Grid rises 3% ahead of earnings

Equity benchmarks continued to be rangebound with the Sensex rising 26.95 points to 24512.90 and the Nifty up 6.25 points to 7442.40. The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices up 0.4 percent each.

The market breadth remained positive as about 1327 shares advanced against 1096 declining shares on the BSE.

Power Grid Corporation gained more than 3 percent ahead of Q3 earnings due later today. A CNBC-TV18 poll sees 23 percent year-on-year growth in profit at Rs 1,508 crore and 21 percent growth in revenue Rs 5,265 crore, supported by commissioning of assets. Earnings will be announced on January 27.


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Posted in: Indian Market Tips