Sensex, Nifty steady; Vedanta, GAIL & Sun Pharma up 2-3% -- 17 Nov 2015

Hindalco, Vedanta, ITC, GAIL and Sun Pharma are top gainers while Infosys, Dr Reddy's Labs, Axis Bank and Hero are losers.

                             

The market is still holding gains as the Sensex is up 56.30 points or 0.2 percent at 25816.40. The Nifty is up 11.20 points or 0.1 percent at 7817.80. About 1272 shares have advanced, 1193 shares declined, and 177 shares are unchanged. Hindalco, Vedanta, ITC, GAIL and Sun Pharma are top gainers while Infosys, Dr Reddy's Labs, Axis Bank and Hero are losers. Suhas Harinarayanan, Head of Research, JM Financial feels there are yet no signs of earnings support for the market. Most earnings expectations have been cut down to singe digits for the year. Earlier the expectations were that earnings would be around high-teens for FY16-17. Therefore, focus only on companies with strong earnings growth potential, he said. Moreover, with rural incomes still stagnant, it is unlikely for one to see meaningful recovery in rural demand for the near-term, said Harinarayanan. Sector specific, he would be more selective on PSU banks and from the two-wheeler space the house has Eicher Motors in their model portfolio with an eye on urban spending.

For More Detail Visit -- http://www.allianceresearch.in/
Or Call on -- 0761-4032175, 9993716323