Indian Benchmark News Update

INDIAN BENCHMARKS: SENSEX ENDS 169 POINTS HIGHER ON GST HOPES, NIFTY NEAR 7950

The domestic equity market traded with smart gains on Friday bucking the weak trend seen in other Asian and European markets. The possibility of a breakthrough on the GST bill made investor sentiments positive at the start of the December F&O series.

The S&P BSE Sensex ended the day 169 points, or 0.65 per cent, higher at 26,128 while the 50-stock barometer Nifty50 closed at 7,942, up 59 points or 0.75 per cent. The benchmark indices ended the week higher with the BSE Sensex climbing a per cent and Nifty Trading Tips50 1.10 per cent. Hindalco and SBI were the top gainers on the BSE benchmark.

HEADLINES OF THE DAY

• SKS Microfinance slashes interest rate by 1%
• Ashok Leyland bags order from Cote DIvoire; stk up
• Welpsun Corp jumps on bagging order for onshore project

The crucial resistance for Nifty SPOT is now seen at 8003 and above this 8040. Support for the immediate term is now placed at 7877 and next support will be 7812.