Nifty holds 8700; Infosys gains 2%, Sun Pharma & Hero down


NSE_Nifty_Bul_190The market still continues to be flat. The Sensex is up 30.04 points at 28881.01 and the Nifty is up 2.40 points at 8714.10. About 815 shares have advanced, 980 shares declined, and 165 shares are unchanged.

Cipla, Sesa Sterlite, Wipro, Infosys, HDFC are gainers in the Sensex while Tata Motors, GAIL, M&M, Hero and Sun Pharma are major laggards.

Crude prices are up as rising violence in producer Libya and an expected boost in oil demand from China’s central bank easing helped the market rebound from a sharp rout in the previous session.

Traders and analysts said they expect crude’s rollercoaster ride which began last Friday to continue as it tries to find a bottom to a seven-month selloff that took prices near six-year lows But many were pessimistic about a sustained rally, as record-high US inventories rekindle worries about a glut.

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