Sensex reclaims 27000, Nifty settles above 8350; Metal stocks gain

Sensex gains 24 points

Besides, continuous outflow of foreign funds and lower Gross Domestic Product (GDP) and real Gross Value Added (GVA) estimates for Fiscal 2017, released after the market hours on Friday, weighed heavy on investors' sentiments.

The NSE Nifty also rose by 19.20 points, or 0.23 per cent, at 8,263.

At 9.25 AM, the S&P BSE Sensex was trading 27,044, gaining 144 points while the Nifty50 was trading at 8,335, up 46 points.

The market breadth was stronger as 1,727 shares rose and 1,079 declined while 164 were unchanged on the BSE. The bank had declared its Q3 results on Tuesday.

Auto index increased more than 200 points.

Apart from the key macro-economic data points, investors have been anxious over the impact of demonetisation on the Q3 earning results.

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Private sector lender IndusInd Bank closed 6.16 percent higher at Rs 1,233 on the BSE.

"However, banking, IT and FMCG stocks witnessed healthy recovery from lower levels", he said.

In rest of Asia, Hong Kong's Hang Seng index closed 0.8% higher, while South Korea's Kospi closed up 1.5%. Mid-cap and Small-cap shares also traded with substantial gains.

"Technically, the Nifty seems to be in consolidation mode".

IndusInd Bank, which reported better than estimated earnings for the December quarter yesterday, surged 3 per cent to be the top gainer in Nifty followed by Hindalco, Yes Bank, Tata Motors, Bharti Airtel, which surged between 1-1.5 per cent each. Bankex and Metals surged nearly 500 points each.

The Sensex is trading at 27,014.23 points up by 114.67 points or 0.43 per cent.

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