Nifty hovers around 8250; Sheela Foam surges 39% to Rs 1018

Equity benchmarks as well as broader markets entered into consolidation phase with the Nifty hovering around 8250 after yesterday’s sharp rally.

The 30-share BSE Sensex was up 41.16 points at 26735.44 and the 50-share NSE Nifty gained 0.95 points at 8247.80. The market breadth was positive as about 1081 shares advanced against 704 declining shares on the BSE.

Sheela Foam started off trade on a strong note, rising more than 39 percent to hit an intraday high of Rs 1,018 in early trade. The stock opened at Rs 860 on the National Stock Exchange against issue price of Rs 730.

Infosys, ITC, Tata Motors, ONGC, ICICI Bank, Reliance Industries and TCS continued to gain, up 0.6-1.8 percent while HDFC Bank, HDFC, Bajaj Auto, Hero Motocorp, Lupin, HUL, Sun Pharma and Coal India fell 0.4-1.2 percent.

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