The broader sharemarket outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.5 percent each. About 1018 shares have advanced, 686 shares declined, and 57 shares are unchanged on the Bombay Stock Exchange.

Sanjeev Prasad, Kotak Institutional Equities says the Street has largely focused on economic reforms, pace of economy recovery linked to economic reforms and decline in interest rates as the most important drivers for the Indian market for 2015.

“We broadly agree with the drivers and our Model Portfolio largely reflects the same. Our large positions in banks and automobiles reflect our positive views on economic recovery and lower interest rates,??? he adds. “We have taken the opportunity to remove Idea Cellular from the portfolio and add 100 basis points each to Infosys and Tech Mahindra. We have also removed GAIL from the Model Portfolio and allocated the 200 basis points weight to Reliance Industries,??? says Prasad.

Equity benchmarks remained in a consolidation mode due to lack of volumes at institutional desk. The Sensex rose 3.28 points to 27399.01 and the Nifty advanced 1.65 points to 8247.95. Technology and healthcare stocks gained while metals, oil & gas and select banks stocks were under pressure. The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.5 percent each. About 1018 shares have advanced, 686 shares declined, and 57 shares are unchanged on the Bombay Stock Exchange. Larsen and Toubro gained 1 percent as the government approved ordinance to amend the Land Acquisition Act to remove barriers in a range of sectors like power, housing, defense to kick start stalled projects, there by making the procedure to acquire land faster. Subsidiary L&T Construction bagged orders worth Rs 2,521 crore in December.

Coustery : http://www.moneycontrol.com/news/local-markets/nifty-hovers-around-8250-itpharma-gain-metals-down_1263370.html