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Sunday, January 24, 2016

Equity Tips
Sensex rises over 150 pts, Nifty strong; HDFC, Reliance lead

HDFC Bank , the country’s second largest private sector lender, is expected to continue to report stable earnings for October-December quarter.

The market remained strong in morning trade with the Sensex rising 173.87 points or 0.71 percent to 24609.53 and the Nifty up 52.90 points or 0.71 percent to 7475.35, tracking positive global cues.

Asian markets also gained with Shanghai and Hang Seng up 1-1.8 percent, tracking a 2-2.7 percent rally on Wall Street on Friday. Crude oil prices extended gains after surge on short covering. Brent crude rose 0.7 percent to USD 32.40 a barrel.

HDFC, Reliance Industries, HDFC Bank, ICICI Bank, TCS, Sun Pharma, Tata Motors and ONGC were leading contributors to Sensex's gains, up 1-2 percent while Axis Bank and Bharti Airtel fell more than 1 percent.

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