INDIAN BENCHMARKS: SENSEX BREAKS LOOSING STREAK UP 115 POINTS, NIFTY HOLDS 7400
The domestic equity market breached a three-day losing streak and notched up handsome gains on Thursday after a bounce in crude oil prices in overnight trade infused new life to equity markets worldwide.
While PSU energy giant ONGC led the surge in the Sensex pack with a 3.26 per cent gain, Reliance Industries still closed weaker at Rs 980.55, down 0.02 per cent. Among others, Asian Paints (up 2.73 per cent), L&T (up 2.93 per cent), Adani Ports (up 2.50 per cent), Infosys (up 1.76 percent) Tata Motors (up 2.12 per cent) and Coal India (up 1.78 per cent) were among other top gainers.
The 30-pack S&P BSE Sensex gyrated wildly for the larger part of the day and still remained in the positive territory. The benchmark ended the day at 24,338.43, up 0.48 per cent or 115.11 points.
In the 50-stock Nifty50, which closed at 7,404, up 0.57 per cent or 42.20 points, as much as 36 stocks ended with gains, with Vedanta (up 11.27 per cent), Cairn (up 6.59 per cent), Tata Power (up 3.68 per cent) and ONGC (up 3.60 per cent) being the top gainers.
On the other hand, Lupin (down over 2.88 per cent), Idea (down over 2.80 per cent), Yes Bank (down over 2.10 per cent), NTPC (down 2.06 per cent) and Cipla (down over 1.97 per cent) were the top losers.
UPCOMING RESULTS:
DIVIS LAB, EICHER, LUPIN, SOBHA, PTC, RADICO, CADILA
HEADLINES OF THE DAY
- Union Budget on Feb 29; Railway Budget on Feb 25
- Team Lease Rs423 cr IPO oversubscribed
- Bajaj Auto Q3 net profit up by 5% (YoY)
The crucial resistance for Nifty Trading Tips SPOT is now seen at 7460 and above this 7566.Support for the immediate term is now placed at 7336 and next support will be 7250.
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