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Monday, 22 December 2014

Nifty holds above 8350; HDFC, SBI lead on RBI norms

The market continues its gains for the fourth consecutive day with the Nifty surpassing 8350. The Sensex is up 121.17 points at 27822.96 and the Nifty is up 31.20 points at 8355.20. About 1221 shares have advanced, 1010 shares declined, and 86 shares are unchanged.

Bharti, Bajaj Auto, Axis Bank, HDFC and SBI are top gainers in the Sensex.

Banks lead the way today buoyed by RBI tightening rules on non-cooperative borrowers. Additionally banks with insurance arms such as PNB and SBI see further fillip on HDFC's life insurance arm 1 percent stake sale to azim premji trust being sold at a premium. Deutsche Bank says the valuation of the deal is 21 percent higher than their valuation of HDFC Life.

Among the losers are Hindalco, Coal India, Sesa Strelite, Wipro and Reliance.

Globally, Asia is mixed in low volume trade. Brent trades around USD 60 per barrel following a volatile session the day before. More information please visit this site

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