Sensex stays firm; Tata pack leads, Sesa Hindalco rally

14:19

Moneycontrol Bureau
Live Market Commentary
The market remained in a positive terrain with the Sensex rising more than 100 points in afternoon trade Friday, led by index heavyweights Reliance Industries and ITC.

The Sensex is up 102.07 points at 20004.14, and the Nifty is up 26.70 points at 5936.40.

Metals stocks continued their run up for the second consecutive session today with the BSE Metal Index gaining 1.5 percent. Sesa Sterlite, Tata Steel and Hindalco Industries rallied 2-3 percent.

Tata Motors remained in bull grip with 3 percent gains after Deutsche Bank raised its target price on the stock by 45 percent from Rs 275 to Rs 400. The brokerage house has a buy rating on the stock, citing, strong sales of Tata Motors' UK subsidiary Jaguar Land Rover (JLR) in China and US.

Index heavyweights Reliance Industries and ITC gained 1.4 percent and 0.7 percent, respectively.

Among others, TCS, HDFC Bank, M&M, Bharti Airtel and Sun Pharma rose 1-1.5 percent whereas Infosys, ONGC, HDFC, ICICI Bank and L&T are marginally under pressure. Dr Reddys Labs lost more than 1.5 percent.

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