Axis Bank, HDFC twins, Reliance and Tata Steel are top gainers in the Sensex. Among the losers are Vedanta, M&M, Hindalco, Wipro and Hero MotoCorp.
The market is still holding up early gains. The Sensex is up 150.04 points or 0.5 percent at 28348.33, and the Nifty up 44.40 points or 0.5 percent at 8568.20. About 1366 shares have advanced, 824 shares declined, and 134 shares are unchanged. Axis Bank, HDFC twins, Reliance and Tata Steel are top gainers in the Sensex. Among the losers are Vedanta, M&M, Hindalco, Wipro and Hero MotoCorp. The Asian Development Bank (ADB) has cut its 2015 and 2016 growth forecasts for China and the rest of Asia, largely as a result of the slower than expected growth in the region's largest economy and in developed economies elsewhere. Developing Asia is now expected to grow 6.1 percent and 6.2 percent this year and in 2016 against the ADB's March forecast of 6.3 percent for both years, the bank said in its 2015 outlook supplement released on Thursday. Oil prices rebounded in Asia after a sharp decline the day before, as traders try to get a handle on the full implications of Iran's landmark nuclear deal with major powers. Brent crude for August advanced 45 cents to USD 57.50.
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