Sensex, Nifty trade higher despite Brent crude hits $70 a barrel

commodity market tips

Vedanta, IOC, and Indiabulls Housing Finance were other gainers.

Gold prices rose 0.26 percent to Rs 29,465 per 10 grams in futures trading today as speculators raised bets, tracking firm trend overseas.

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Gold for delivery in February was trading Rs 75, or 0.26 percent, higher at Rs 29,465 per 10 grams, in a business turnover of 376 lots.

Similarly, the metal for delivery in April was also trading higher by Rs 56, or 0.19 percent, at Rs 29,430 per 10 grams in 34 lots.

Midcap stocks witnessed a stellar rally last year with the Nifty Midcap index rising 50 percent in 2017. They were seen as one of the major reasons behind the market clocking fresh highs last year.

Speaking of different sectors, non-banking financial companies (NBFCs) are richly-valued. “They have gone through a bubble phase and we would want to stick to larger banks. PSU banks should do well. In the housing finance space, we are sticking to HDFC,” he told the channel.


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