Share Market Tips - Nifty extends gains, Sensex up 200 pts; Asian Paints, Hero top gainers

Benchmark indices extended gains in early trade with the Sensex rising 205.27 points to 39,919.47.

The Nifty50 jumped 49.50 points to 11,972.30, driven by HDFC and HDFC Bank. Arvind Sanger is the founder and managing partner of Geosphere Capital Management told CNBC-TV18 that GDP numbers for Q1FY20 should be worse than Q4FY19 and economy continued to decelerate.

Trade war & preference to tariffs have raised risks significantly, he said.

He feels the RBI cutting the rates not a solution to a weak economy. "RBI rate cut might trigger sell on rally action."

Sanger said he is not willing to bet on the overall market, will buy into specific sectors. Benchmark indices opened marginally higher with Nifty reclaiming 11,950 levels despite the correction in global markets.

HPCL, BPCL, IOC, Hero Motocorp, Bharti Infratel, HDFC, GAIL, and Wipro gained.

Tata Motors, Yes Bank, Eicher Motors, M&M, Hindalco, and Maruti are under pressure. Benchmark indices were higher in pre-opening trade despite the correction in global peers amid trade worries.

The BSE Sensex rose 86.15 points to 39,800.35 and the Nifty50 gained 56.80 points at 11,979.60 in pre-opening trade.

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