Nifty hovers around 8800 as investors await RBI policy; ITC up

Buying interest continued in morning as the Sensex rallied more than 200 points on hopes of RBI cutting repo rate in the forthcoming two-day policy meet that will start on February 7.

The 30-share BSE Sensex gained 216.17 points at 28456.69 and the 50-share NSE Nifty rose 63 points to 8803.95. The market breadth was positive as about three shares advanced for every share falling on the BSE.

ICICI Bank and Lupin were biggest gainers on Sensex, up 3 percent each followed by ITC, Asian Paints, Tata Motors and SBI while TCS, Dr Reddy's Labs, Infosys and Coal India were under pressure.

JSW Steel shares gained nearly 2 percent after reporting highest ever monthly crude steel production in January 2017.
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Rupee up by 12 paise at Rs 67.19 vs US dollar

Earlier, the rupee opened higher by 10 paise at 67.21 as against Friday's closing level of 67.31 per dollar at the Interbank Foreign Exchange (Forex) Market.

Infosys | TCS | Wipro | Canara Bank | Dr Reddy's Labs | Idea Cellular | Lupin | Emami | ACC | Jet Airways | Novartis India | Quick Heal | Indian Hotels | CARE | Gravita India | OBC | Divis Labs | J&K Bank | JK Cement and Grasim are stocks, which are in the news today.
F&O cues: Nifty 8700 Put added 6.6 lakh shares in Open Interest while Nifty 8600 Put added 3.2 lakh shares in OI.

Spot gold had gained 0.2 percent to USD 1,222.30 per ounce by 0053 GMT.

US gold futures rose 0.2 percent to USD 1,223.20 per ounce.

The dollar Index was down 0.2 percent at 99.723.

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.41 percent to 814.51 tonnes on Friday from 811.22 tonnes on Thursday.

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