Nifty nears 8200, Sensex rises ahead of RBI policy; HDFC, M&M up

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The market is surging ahead of Reserve Bank of India monetary policy. 
The Sensex is up 119.84 points or 0.4 percent at 26512.60 and the Nifty is up 38.35 points or 0.5 percent at 8181.50.
About 1461 shares have advanced, 993 shares declined, and 138 shares are unchanged.

HDFC, Adani Ports, M&M, Tata Motors and Hero MotoCorp are top gainer in the Sensex while Sun Pharma, TCS, Lupin, Tata Steel and GAIL are losers in the Sensex.

Support for Nifty is currently at 7800-7900, he says, adding, Bank Nifty so far has been supportive. A 25 basis cut interest rate cut is priced in for today’s policy meet. A 50 bps cut could push up market a bit to 8250-8300 level.
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