Closing Bell: Sensex rises 114 pts, Nifty ends tad below 10,700;
pharma, auto, IT outshine
Benchmark indices recouped some previous day's
losses to close in the green after volatility on Tuesday. Ongoing trade
tensions between world's largest economies US and China capped gains.
The 30-share BSE Sensex gained 114.19 points at
35,378.60 and the 50-share NSE Nifty gained 42.60 points at 10,699.90.
The Nifty Midcap index outperformed frontliners,
rising 0.92 percent but the market breadth was not very strong. About 1,344
shares advanced against 1,253 declining shares on the BSE.
Reliance Industries, Infosys, TCS, Maruti Suzuki,
ITC, Bajaj Finserv, IOC, Kotak Mahindra Bank and Bajaj Finance, which gained
1-2 percent, were top contributors to the Nifty's gains.
HEADLINES OF THE DAY
Maruti Suzuki share price rallied 1.9 percent after global
brokerage house JPMorgan has maintained overweight call on the stock with a
target price at Rs 10,200 per share.
Tata Group stocks - TCS (up 1.25 percent), Tata Motors (up 1.11
percent), Tata Steel (0.79 percent), Tata Chemicals (1.88 percent), Tata
Metaliks (3.37 percent), Tata Sponge Iron (3.13 percent) and Tata Global (6.66
percent) continued to see buying interest.
JPMorgan has maintained Overweight call on Larsen & Toubro
with a target price of Rs 1,600 per share, implying a 27.4 percent potential
upside from Monday's closing levels.
Aban Offshore bags order from ONGC: The company informed exchanges
that its step-down subsidiary Aban Singapore Pte Ltd has received a letter of
award from Oil and Natural Gas Corporation.
The crucial resistance for Nifty spot is now seen at 10790 and
above this 10840. Support for the immediate term is now placed at 10550 next
support will be 10410.
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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