Sensex, Nifty hold early gains; PNB Housing Finance jumps 16%

Equity benchmarks continued to hold early gains with the Nifty trading above 8500 level, led by short covering and positive Asian cues. It is a relief rally after losing more than 2 percent in last week on account of uncertainty over US presidential elections.

The 30-share BSE Sensex was up 210.49 points at 27484.64 and the 50-share NSE Nifty gained 72.15 points at 8505.90 while the broader markets outperformed benchmarks.

The BSE Midcap and Smallcap indices rose 1.3 percent and 1.5 percent, respectively. About five shares advanced for every share falling on the exchange.

PNB Housing Finance has made stock market debut at Rs 860, up 11 percent from its issue price of Rs 775. The stock touched an intraday high of Rs 902.80, up 16.5 percent.
Lupin topped the buying list on Sensex, up nearly 6 percent. Aurobindo Pharma, ITC, BPCL, BHEL and PNB gained 2-4 percent while HDFC, TCS, HUL, L&T and Bajaj Auto were losers.

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