The market is still surging ahead with major support from autos, metals and IT.  The Sensex is up 248.43 points or 0.9 percent at 28181.33 and the Nifty is up 65.40 points or 0.8 percent at 8519.50. About 1611 shares have advanced, 658 shares declined, and 132 shares are unchanged. Maruti, Tata Motors, M&M, ONGC and Reliance are top gainers in the Sensex. China’s economy grew an annual 7 percent in the second quarter, steady with the previous quarter and slightly better than analysts’ forecasts, though further stimulus is still expected after the quarter ended with a stock market crash. It has been a difficult year for the world’s second-largest economy. Slowing growth in trade, investment and domestic demand has been compounded by a cooling property sector, deflationary pressure, and most recently a stock market crash, so the recent sequence of data releases showing signs of improvement may help buttress faltering confidence in the effectiveness of prior policy support measures.

Source: http://www.moneycontrol.com/news/local-markets/nifty-holds-8500-sensex-strong-autos-it-metals-support_1969581.html

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