Sensex, Nifty continue to rise; banks, capital goods stocks jump

The market is still holding gains as the Sensex is up 108.00 points or 0.4 percent at 26502.01. The Nifty is up 39.30 points or 0.5 percent at 8181.45.

About 1599 shares have advanced, 811 shares declined, and 182 shares are unchanged.

Maruti Suzuki, ICICI Bank, HUL, Sun Pharma and L&T are top gainers while Coal India, GAIL, NTPC, HDFC and Reliance are major losers in the Sensex.

Hugh Young, Managing Director at Aberdeen Asset Management Asia says although the surprise demonetisation move did lead to a lot of confusion, it shows a strong commitment to reforms. It is definitely an important signal and overseas investors have read it positively.

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