INDIAN BENCHMARKS: SENSEX GIVES UP GAINS, ENDS 45 POINTS DOWN, NIFTY 50 HOLDS 7550
Domestic equity benchmark Sensex witnessed a strong rally in morning trade but gave up all the gains through the day to end in the negative territory, pulled down mainly by bank and auto stocks.
Capital goods major L&T rallied as much as 5 per cent after giving out solid sales guidance in December quarter results, which helped market sentiments and lifted the 30-pack index past the psychologically important 25,000 mark.
Better-than-expected manufacturing data and unexpected stimulus measures from the Bank of Japan that lifted other Asian markets also boosted investor sentiments on Dalal Street.
However, weakness on the bank counter amid NPA concerns, a fall in auto stocks on tepid January sales data and mixed cues from global markets pulled the indices down towards the end of the session.
The S&P BSE Sensex ended the day at 24,824.83, down 0.18 per cent or 45.86 points, while the NSE's Nifty Trading Tips 50 reclaimed the psychologically sensitive 7,600 level during intra-day trade before ending the day at 7,555.95, down 0.10 per cent or 7.60 points
UPCOMING RESULTS:
AMARAJBAT, DLF, CROMPGREAV, TATACOMM, UNITED BREWERIES, CUMMINSIND
HEADLINES OF THE DAY
- Ajanta Pharma Q3 consolidated net profit up 20% (YoY
- Maruti Suzuki Jan 2016 volumes down 2.6% YoY to 113,606 units
- Century Text Q3: Net Loss at Rs10.4 Cr Vs Loss Of Rs63.6 Cr (YoY)
The crucial resistance for Nifty SPOT is now seen at 7605 and above this 7635.Support for the immediate term is now placed at 7463 and next support will be 7409.
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