INDIAN BENCHMARKS: SENSEX RALLIES 400 POINTS,NIFTY 50 JUMPS PAST 7550

INDIAN BENCHMARKS: SENSEX RALLIES 400 POINTS,NIFTY 50 JUMPS PAST 7550

A surprise announcement of negative interest rate by the Bank of Japan and a surge in crude oil prices gave the domestic equity market a big lift on Friday, with the benchmark Sensex gaining 400 points in a spectacular rally.

The Sensex ended at 24,870.69, up 401.12 points or 1.64 per cent. The NSE's Nifty50 jumped 138.90 points, or 1.87 per cent, to scale the psychologically crucial mark of 7,500 and end the day at 7,563.55. The Sensex had closed at 24,469.57 and the Nifty 50 at 7,424.65 on Thursday.

The gains in the Sensex pack were led by Coal India (up 4.73 per cent), Hero Moto Corp (up 4.67 per cent), Sun Pharma (up 4.60 per cent) and Hindustan Unilever (up 3.29 per cent) while SBI (down 2.91 per cent), Tata Steel (down 1.71 per cent), NTPC (down 1.49 per cent) and ICICI Bank -1.22 % (down 1.22 per cent) came under huge selling pressure and ended up as the biggest losers.

UPCOMING RESULTS:

GRASIM, MARICO, SRTRANSFIN, TECHM, WELSPUN CORP, VRL LOGISTICS

HEADLINES OF THE DAY

UPL Q3 consolidated net profit up 15%

IRB Infra Q3 consolidated net profit up 28% (YoY)

Dr Reddy receives USFDA approval for Zembrace SymTouch

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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