Sensex, Nifty steady; Jet Airways soars 11%, Infosys gains - 29 July 2015

ITC is down 3 percent while Dr Reddy's Labs, SBI, NTPC and Bharti Airtel are major losers while Infosys, HDFC, BHEL, Tata Motors and Wipro are among top gainers in the Sensex.

         

The market is still holding up gains with good support form infra, oil & gas and auto stocks. The Sensex is up 84.21 points or 0.3 percent at 27543.44 and the Nifty is up 24.30 points or 0.3 percent at 8361.30. About 1519 shares have advanced, 736 shares declined, and 111 shares are unchanged. ITC is down 3 percent while Dr Reddy's Labs, SBI, NTPC and Bharti Airtel are major losers while Infosys, HDFC, BHEL, Tata Motors and Wipro are among top gainers in the Sensex. Aviation stocks SpiceJet and Jet Airways are up 6-11 percent after Ajay Singh-promoted low-budget airline posted best ever quarter in April-June. Gold steadied at just below USD 1,100 an ounce, trading not far from a 5-5.5-year low, as investors awaited the outcome of the US Federal Reserve's meeting for more clues on the timing of this year's interest rate increase. Gold has been stuck in narrow ranges this week ahead of the conclusion of the Fed's policy meeting later in the day. Policymakers are expected to send more signals to the market that a US interest rate increase is certain this year as the economy recovers. That rate hike, the first in nearly a decade, could happen as early as September, analysts say, suggesting more downside risk for non-interest yielding gold.

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