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The market rebounded in afternoon trade with the Nifty reclaiming 8100 amid consolidation. The broader markets extended upside with the BSE Midcap and Smallcap indices gaining 0.8 percent and 1.4 percent, respectively.
The 30-share BSE Sensex rose 27.34 points to 26425.05 and the 50-share NSE Nifty climbed 12.15 points to 8100.75. The market breadth remained positive as about three shares advanced for every share falling on Bombay Stock Exchange.
Currently, there are three things playing out for India – macros are good, growth is recovering and consumption too is improving, although the recovery is not yet broadbased, says Gupta.
ITC, L&T, SBI, ICICI Bank, Axis Bank, HUL, Adani Ports, Dr Reddy’s Labs and NTPC gained 1-2 percent while TCS, Infosys and Wipro fell 1-3 percent.
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Posted in: Indian Market Tips
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