INDIAN BENCHMARKS: NIFTY TOOK A SMART BOUNCE CLOSES ABOVE 7650
A
rally in European stocks, a stronger-than-expected 9.8 per cent growth in
October industrial output and a negative November WPI reading helped the
domestic equity benchmarks register a smart rebound on Monday despite fears of
a Fed liftoff in the two-day rate-setting meeting that begins on Tuesday. Most
Asian markets tumbled deep into the red earlier in the day.
The
BSE benchmark Sensex opened in the negative and briefly fell below the
psychological 25,000 mark to hit a three-month low, but soon pulled off a smart
rebound to end the day 105.92 points, or 0.42per cent, higher at 25,150.35. NSE
barometer Nifty50 gained 39.60 per cent or 0.52points to settle for the day at
7,650.05. The 50-stock index had fallen below its psychological mark of 7,600
earlier in the day.
HEADLINES OF THE DAY
WPI Inflation November 2015 comes at -1.99%
DCB Bank reduces Base Rate by 15 bps
Natco receives Generic Daclatasvir approval for India
The
crucial resistance for Nifty SPOT is now seen at 7703 and above this 7775.
Support for the immediate term is now placed at 7612 and next support will be
7540.
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