Sensex holds early gains, Nifty above 9200; Midcap outperforms

Equity benchmarks maintained early gains, with the Nifty holding 9200 level, backed by banking & financials, oil and auto stocks.

The 30-share BSE Sensex was up 143.56 points at 29,764.06 and the 50-share NSE Nifty gained 30.15 points at 9,203.90.

The broader markets outperformed benchmarks, with the Nifty Midcap and Smallcap indices rising half a percent on strong breadth. About three shares advanced for every share falling on the exchange.

Reliance Industries stock price soared 4.6 percent intraday, riding high on the positive response to Jio Prime membership as well as an extension in the deadline to subscribe to it. It was the biggest contributor to Sensex' gains.

HDFC, ICICI Bank, Axis Bank and SBI also gained ahead of RBI policy meet on Thursday. Tata Motors, Maruti Suzuki, M&M and Hero Motocorp were moderately higher post auto sales data.

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Posted in: Indian Market Tips