The market extended gains in morning trade as the Sensex is up 308.48 points or 1.53 percent at 20502.88, and the Nifty is up 92.90 points or 1.55 percent at 6082.50. Axis Bank is the leader among Nifty 50 gainers, rallying nearly 6 percent followed by ICICI Bank and IndusInd Bank with 3.7 percent gains. Rate hike fears after rise in CPI inflation and uncertainty over Fed tapering spooked the market in last seven sessions. WPI inflation for October will be announced today, which is expected to be around 7 percent compared to 6.46 percent in September. Indian rupee gained 16 paise in early trade today at 63.14 per dollar as against previous day's closing of 63.30 per dollar. On the global front, Asian markets gained between 0.5-1 percent as investors cheered stimulus-supportive remarks from Federal Reserve Vice Chairman Janet Yellen, released after the close of US markets. On BSE, Midcap and Small cap gained almost 1.5% as we write this. On Sectoral front, Bnakex is the out performer to gain 3%, followed by all others. The list gainer is IT which is adding 0.34%.
Further the market breath remains positive with 907 shares are seen advancing against 220 declining shares.
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