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Nifty eyes 7850, Sensex firm; SBI Vedanta up 2%, HUL down

SBI, Vedanta, Axis Bank, Wipro and ONGC are top gainers whule BHEL, HUL, Tata Motors, GAIL and ICICI Bank are among laggards in the Sensex.

10:00

TheNewsInternational Team

The market is holding early gains as the Sensex is up 154.10 points or 0.6 percent at 25776.27. The Nifty gains 45.60 points or 0.6 percent at 7833.70. About 1272 shares have advanced, 360 shares declined, and 50 shares are unchanged.

SBI, Vedanta, Axis Bank, Wipro and ONGC are top gainers whule BHEL, HUL, Tata Motors, GAIL and ICICI Bank are among laggards in the Sensex.

Harendra Kumar of Elara Capital believes the market will see a bottoming out in the next one month and one can buy a lot of select stocks in the current market.

He believes the foreign institutional inflows are expected to be positive in the days to come.  He suggests buying select midcap stocks in the oil and gas and telecom space form a long-term point of view.

Crude oil prices dipped after news top oil exporter Saudi Arabia sees no need for a summit of producing countries’ heads of state to defend prices, partly offsetting the previous session’s strong rally on bullish gasoline demand.

09:15

Sensex up 200 pts, Nifty opens above 7800; SBI, Axis lead

SBI, Axis Bank, ONGC, Vedanta, M&M and YES Bank topped the buying list, rising 1-2 percent. However, GAIL, ICICI Bank, Tata Motors, Bosch and BHEL were marginally in red.

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