Sensex, Nifty hold early gains; HDFC rebounds, ICICI ups further

Equity benchmarks retained early gains with the Sensex rising over 200 points, driven by short covering.
The 30-share BSE Sensex was up 207.94 points at 27737.91 and the 50-share NSE Nifty gained 58.90 points at 8579.30. The broader markets marginally outperformed benchmarks as the BSE Midcap and Smallcap indices rising over 0.8 percent on strong breadth.
About three shares advanced for every share falling on the exchange. HDFC and HDFC Bank rebounded after yesterday’s sell-off, up 1.9 percent and 0.4 percent, respectively. ICICI Bank extended rally, up 1.5 percent in addition to 7 percent upside in yesterday’s trade, after while maintaining buy call, Nomura raised target price from Rs 285/share to Rs 325/share


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Posted in: Indian Market Tips