The market continues to climb with the Nifty eyeing 8550. The 50-share index is up 60.90 points or 0.7 percent at 8536.70 and the Sensex is up 175.67 points or 0.6 percent at 27551.25. About 1449 shares have advanced, 1016 shares declined, and 305 shares are unchanged.
HDFC, Axis Bank, L&T, Hero MotoCorp and Tata Steel are top gainers while Bharti Airtel, Wipro, Reliance, Infosys and NTPC are losers in the Sensex.
With Budget round the corner, the market might take a breather now, says Nitin Jain, Principle Investment Manager at Kotak UK. He believes there will be continued support from domestic funds on dips.
Foreign investors might also return after recently having pruned their exposure, Jain says, adding, funds only seem to be awaiting clarity on corporate earnings in the wake of demonetisation, Goods and Services Tax (GST) rollout, and taxation treaties.
Some sectoral baskets like banking, consumer discretionary and to some extent cement have positively surprised on earnings this quarter and Jain feels this raises hope the earnings growth story, which had been belying analysts for some time, can come back.
HDFC, Axis Bank, L&T, Hero MotoCorp and Tata Steel are top gainers while Bharti Airtel, Wipro, Reliance, Infosys and NTPC are losers in the Sensex.
With Budget round the corner, the market might take a breather now, says Nitin Jain, Principle Investment Manager at Kotak UK. He believes there will be continued support from domestic funds on dips.
Foreign investors might also return after recently having pruned their exposure, Jain says, adding, funds only seem to be awaiting clarity on corporate earnings in the wake of demonetisation, Goods and Services Tax (GST) rollout, and taxation treaties.
Some sectoral baskets like banking, consumer discretionary and to some extent cement have positively surprised on earnings this quarter and Jain feels this raises hope the earnings growth story, which had been belying analysts for some time, can come back.
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