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Nifty holds 7850, Sensex firm; Sun Pharma up, BHEL dips 2%

Hero MotoCorp, Sun Pharma, Bajaj Auto, Bharti Airtel and Axis Bank are top gainers while BHEL, L&T, NTPC, Hindalco and Tata Steel.

11:00

TheNewsInternational Team

The market is holding its morning gains firmly. The Sensex is up 131.55 points or 0.5 percent at 25837.48 and the Nifty is up 30.05 points or 0.4 percent at 7859.15. About 1076 shares have advanced, 957 shares declined, and 77 shares are unchanged.

Hero MotoCorp, Sun Pharma, Bajaj Auto, Bharti Airtel and Axis Bank are top gainers while BHEL, L&T, NTPC, Hindalco and Tata Steel.

Meanwhile, as all eyes are on the Federal Reserve move on rate hike analyts feel India is ready for it. Markets are poised for a relief rally even if the Federal Reserve hikes interest rates for the first time in nine years, and it is likely the US central bank will do it, to “call the bluff of scaremongers”, believes Ajay Bodke of brokerage firm Prabhudas Lilladher.

Gold struggled to break out of a tight range near its one-month low , as investors waited to hear on the outlook of US interest rates from a Federal Reserve policy meet that kicks off later in the session.

Traders are waiting to see if the US central bank will raise rates this week for the first time in nearly a decade. The uncertainty over the timing of a rate hike has weighed on gold all year, sending it down over 6 percent. Higher rates could dent demand for non-interest-paying bullion, while boosting the dollar.

10:00

Sensex, Nifty remain strong; Sadbhav Infra lists at Rs 111

Sadbhav Infrastructure Project has listed at Rs 111 on the National Stock Exchange, higher by 7.8 percent over its issue price of Rs 103.

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09:15

Sensex up over 150 pts, Nifty opens above 7850; metals gainRead More »

Vedanta, Sun Pharma, Hindalco, Tata Steel and Tata Motors are gainers in the Sensex.

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