Sensex extends rally, Nifty reclaims 8200; ITC, Asian Paints up

The market extended rally in morning trade with the Sensex rising 145.93 points to 26813.89 and the Nifty climbing 42.10 points to 8202.20.

The broader markets also gained on strong market breadth. The BSE Midcap and Smallcap indices rose 0.6% each as more than two shares advanced for every share falling on Bombay Stock Exchange.

Maruti Suzuki shares came off day's high after May sales data, up 0.2 percent. It has sold 1.23 lakh units in May, up 7.1% YoY, which was completely driven by domestic business that grew by 10.6 percent.

However, exports fell 20.8 percent to 9,872 units against 12,466 units in corresponding period of last fiscal. ITC, TCS, Asian Paints, Axis Bank, Adani Ports, and Bharti Airtel were leading gainers, up 1-2 percent while Tata Motors, ICICI Bank, HDFC Bank, HDFC and NTPC were under pressure.

BUY KOHINOOR FOODS ABOVE 73.50 TG 74.20, 75.20, 76.50 SL 72.45,

BUY INDIA CEMENT FUTURE ABOVE 96.50 TG 99, 102 SL 94,




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he market extended rally in morning trade with the Sensex rising 145.93 points to 26813.89 and the Nifty climbing 42.10 points to 8202.20. The broader markets also gained on strong market breadth. The BSE Midcap and Smallcap indices rose 0.6 percent each as more than two shares advanced for every share falling on Bombay Stock Exchange. Earnings trajectory is now moving into a positive territory and the pace of downgrades has receded, says Anish Damania of IDFC Securities.

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