INDIAN BENCHMARKS: SENSEX SURGES IN RELIEF RALLY POST FED LIFTOFF, ENDS 310 POINTS UP
A relief rally in global stock market pulled the domestic equity market higher on Thursday as the benchmark indices surged smartly through the day. Echoing the sentiments seen on other Asian and European markets, investors at home breathed a sigh of relief over the passing of this most-awaited financial event of the year.
The S&P BSE Sensex rallied smartly to close the day at 25,803, gaining 310 points, or 1.21 per cent while the 50-stocks barometer Nifty50 ended the day 93 points, or 1.21 per cent, higher at 7,837. Tata Steel and Vedanta, were the top gainers on the BSE benchmark. The overall market breadth remained upbeat with 25 of the BSE30 stocks closing the day in the black.
HEADLINES OF THE DAY
- US FED finally announced rate hike of 25 bps
- Aurobindo Pharma receives USFDA approval for Methylprednisolone
- HUL sign’s agreement with Mosons group to acquire Induleka
The crucial resistance for Nifty Trading Tips SPOT is now seen at 7912 and above this 7979 Support for the immediate term is now placed at 7825 and next support will be 7746.
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