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Sensex extends rally, Nifty holds 10,900; HDFC twins support

Benchmark indices opened the truncated week at fresh record high, with the Nifty climbing above 10,900 level. Reliance Industries (up 1.5 percent), ONGC (5 percent) and HDFC (1 percent) were leading gainers.

The 30-share BSE Sensex was up 98.33 points at 35,609.91 and the 50-share NSE Nifty rose 16.90 points to 10,911.60. About 821 shares advanced against 499 declining shares on the BSE.

Wipro, ICICI Bank and SBI were mildly in the red.Jubilant Foodworks gained 4 percent. Jaiprakash Associates was up 8 percent and Omax Auto gained 20 percent.

Gruh Finance slipped 4 percent on profit booking post earnings. HDFC Standard Life and GNA Axles gained over a percent.

Confidence among Japanese manufacturers jumped in January to an 11-year high, the Reuters Tankan poll showed today, highlighting corporate optimism driven by nearly two years of uninterrupted economic expansion and a buoyant stock market.

Reliance Industries gained 2 percent as the company on consolidated basis reported a 16 percent profit growth quarter-on-quarter, driven by petrochemical business and Jio that reported its first ever profit at Rs 504 crore in Q3 against loss of Rs 271 crore in previous quarter.

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