Sensex, Nifty marginally higher; Hindalco soars 11%, IT leads

Equity benchmarks were marginally higher in morning trade with the Nifty reclaiming 8200, supported by technology, select banks and auto stocks.

The 30-share BSE Sensex rose 72.40 points to 26726 and the 50-share NSE Nifty advanced 21.30 points to 8177.95. The market breadth remained positive as about 1060 shares advanced against 762 declining shares on Bombay Stock Exchange.

Hindalco shot up 11 percent after stellar performance in Q4. Profit more than doubled to Rs 356.3 crore during the quarter from Rs 159.5 crore YoY with operating profit margin rising 450 basis points at 13.5 percent.

Coal India also gained 4.5 percent as the board of directors approved revision of coal prices by approximately 6.29 percent over current price.

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Posted in: Indian Market Tips