INDIAN BENCHMARKS: SENSEX CLIMBS 174 POINTS AHEAD FED MEETING
Shrugging off concerns over a likely Fed liftoff, the S&P BSE Sensex advanced for the third trading session on Thursday in line with its global peers, as market men anticipated a dovish tone in the Fed commentary after the first rate hike in nearly seven years.
The BSE benchmark climbed 173.93 points to settle the day a tad lower than the psychological level of 25,500. The index advanced 0.69 per cent to end at 25,494.37. The Nifty Trading Tips50 advanced 50 points, or 0.65 per cent, to close at 7,750.90.
HEADLINES OF THE DAY
- ICRA downgrades United Bank of India’s rating
- Govt hikes excise duty on petrol, diesel
- Alkem Laboratories prices $200 mn IPO at Rs 1,050 per share
The crucial resistance for Nifty SPOT is now seen at 7825 and above this 7910.
Support for the immediate term is now placed at 7703 and next support will be 7624.
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