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 broader markets marginally outperformed benchmarks as the BSE Midcap and Smallcap indices rising over 0.8 percent on strong breadth.
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.
The market is still surging with the Sensex up 207.49 points or 0.7 percent at 27737.46. The Nifty is up 61.95 points or 0.7 percent at 8582.35.
Tata Steel, Adani Ports, HDFC, ICICI Bank and BHEL are top gainers in the Sensex. Asian Paints, Bharti and Hero are losers in the Sensex.
The Indian rupee gained in the early trade. It has opened higher by 10 paise at 66.79 per dollar versus previous close 66.89.
"The USD-INR pair continues to trade in the 66.50-67/dollar range with some depreciating bias, as some FII outflows continue to pressurise the pair,"