Sensex, Nifty maintain uptrend; Axis Bank, MM in red

Sesa Sterlite is up 4 percent. Other gainers are Hindalco, Coal India, Tata Steel and Tata Motors. Axis Bank, M&M and ICICI Bank are in red.

14:28

Moneycontrol Bureau The market gives up some of its gains, but still holding firm. The Sensex is up 165.21 points at 27406.99 and the Nifty up 50.30 points at 8251. About 1682 shares have advanced, 1067 shares declined, and 119 shares are unchanged.

Sesa Sterlite is up 4 percent. Other gainers are Hindalco, Coal India, Tata Steel and Tata Motors. Axis Bank, M&M and ICICI Bank are in red.

As stock market authorities prepare a new framework for risk-based supervision of various
market entities, top exchanges BSE and NSE have extended the deadline for brokers to submit necessary details for putting in place this new model. The two exchanges had earlier asked their members to provide necessary details by December 24 for this risk-based supervision module.

Meanwhile, the economy is expected to grow "much better" in 2015-16 as compared with the current financial year, Finance Minister Arun Jaitley said. The Indian economy grew by 5.3 percent in the September quarter from a year earlier, and is expected to grow 5.5 percent in the current financial year that ends on March 31.