INDIAN BENCHMARKS: SENSEX JUMPS 474 POINTS, NIFTY 50 ABOVE 7400
ON ECB STIMULUS TALK, OIL RALLY
The
domestic equity market rallied on Friday tracking a relief rally in other Asian
markets after signals for more stimulus from the European Central Bank (ECB)
revived risk appetite across markets and a 5 per cent jump in crude oil prices
boosted investor sentiments.
The
benchmark BSE Sensex saw a steady rise through the day, helped by gains in key
index constituents such as GAIL (7.99%), Tata
Steel 5.35 % (5.35 per cent), Maruti (5 per cent), M&M (5 per cent),SBI
(4.81 per cent) and Hero MotoCorp 4.55 % (5.11 per cent).
The
30-stock benchmark ended the day at 24,435.66 points, up 473.45 points or 1.98
per cent. NSE's Nifty50 shot up above the psychologically crucial 7,400 level
and settled at 7,422.45, up 145.65 points or 2 per cent.
UPCOMING
RESULTS:
HDFCBANK,
MCLEODRUSS, MRF, NILKAMAL
HEADLINES OF THE DAY
ITC Q3 disappoints; Net Profit below estimates.
Mahindra rallies on launch of smaller diesel engine.
Idea Q3 disappoints; consolidated net profit at Rs764 cr.
The
crucial resistance for Nifty SPOT is now seen at 7471 and above this
7567.Support for the immediate term is now placed at 7336 and next support will
be 7250.
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