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Sensex, Nifty pick up pace; TCS, ITC, HUL gain 1%


Moneycontrol Bureau

The market has managed to gain gradually. The Sensex is up 91.83 points or 0.4 percent at 24715.17 and the Nifty is up 22.40 points or 0.3 percent at 7508.55. About 990 shares have advanced, 1364 shares declined, and 143 shares are unchanged.

Adani Ports, TCS, ITC, Lupin and HUL are top gainers while Tata Steel, ONGC, Hindalco, M&M and NTPC are losers in the Sensex.

Central Banks’ monetary policies are indicative of support for other drivers of growth, which may not be doing so well, says Subir Gokarn, Executive Director of International Monetary Fund (IMF).

The European Central Bank (ECB) of Thursday lowered its deposit rate further to -0.4 percent, taking it to negative. While the experts are surprised by the move, Gokarn says that ECB and Bank of Japan are trying to provide stimulus for other growth factors.

Monetary policy in the US, on the other hand, is returning towards normalcy and there are expectations of further hikes.

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