Sensex surges 200 pts, Nifty reclaims 8450; HDFC twins lead

Epic Update HDFC Bank

Benchmark indices extended gains in afternoon trade with the Nifty reclaiming 8450 level ahead of expiry of January futures & options contracts, led by HDFC Group, auto, infra and oil stocks.

The 30-share BSE Sensex gained 193.14 points at 27310.48 and the 50-share NSE Nifty rose 59.75 points to 8451.25.

About 1518 shares advanced against 1058 declining shares on the BSE.

HDFC, Tata Motors, L&T, Reliance Industries, Bajaj Auto, NTPC and Lupin rallied 1-2 percent while Infosys, HUL and Bharti Airtel remained under pressure, down around 1 percent.

HDFC Bank gained more than a percent after better-than-expected earnings growth in the quarter ended December 2016. L&T Finance Holdings, too, gained 3 percent after profit jumped 27.8 percent year-on-year despite higher non-performing assets.

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Posted in: Indian Market Tips