INDIAN BENCHMARKS: SENSEX CLIMBS 178 POINTS, NIFTY 50 ABOVE 7000
POST ECONOMIC SURVEY
Several
good triggers came together to lift the domestic market on Friday: crude prices
rose, the Chinese market saw a rebound and European markets had a strong
opening. However, the Economic Survey for 2015-16 that sounded rather cautious
on the growth prospects of the domestic economy added some choppiness to the
market.
BSE
benchmark Sensex, which opened
200
points higher, but pared most of those gains through midday before again
bouncing to close 178.30 points or 0.78 per cent higher at 23,154.30. The
broader Nifty50 index, which had slipped below its crucial support level at
7,000 on Thursday, notched up 59.15 points, or 0.85 per cent, to end the day at
7,029.75.
HEADLINES OF THE DAY
Crompton
Greaves fixes record date as 16 March for Demerger.
United
Spirits surges after Vijay Mallya resigns as Chairman.
Government
likely to impose antidumping duty on chemical imports.
The
crucial resistance for Nifty SPOT is now seen at 7090 and above this 7145.
Support for the immediate term is now placed at 6869 and next support will be
6750.
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