Tuesday, 10 January 2017

Sensex Extends Gains, Nifty Inches Towards 8300 Axis Bank Down

Posted by suhani varma on Tuesday, January 10, 2017 with No comments

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Benchmark indices extended gains in afternoon with the Nifty inching towards 8300, driven by HDFC Bank, Tata Motors, Reliance Industries and ITC. The 30-share BSE Sensex was up 172.58 points at 26899.13 and the 50-share NSE Nifty gained 45 points at 8281.05. The BSE Midcap and Smallcap indices were up 0.3-0.6 percent on positive breadth. HDFC Bank, Tata Motors, Reliance Industries, Adani Ports, Asian Paints and ICICI Bank were leading contributors to Sensex's gains, up 1-3 percent whereas Axis Bank fell more than 1 percent followed by HDFC, Dr Reddy's Labs, HUL and Cipla. Bourses in Europe were mixed as concerns over the Italian banking system grew. Oil markets edged higher on expectations that at least some planned production cuts would be implemented, making a slight recovery from big losses the previous day over doubts the agreed reductions would rebalance an oversupplied market. 


Brent crude futures, the international benchmark for oil prices, were trading at USD 55.14 per barrel, up 0.36 percent from their last close. US West Texas Intermediate (WTI) crude oil futures were trading at USD 52.18 per barrel, up 0.42 percent.

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