Closing Bell: Sensex rises nearly 300 pts, Nifty tad below 10,600; RIL, ICICI, HDFC lead.
Benchmark indices closed sharply higher on Tuesday with the Sensex gaining nearly 300 points as all sectoral indices ended in the green despite mixed global cues. The fall crude oil prices and rupee appreciation also boosted sentiment.
The 30-share BSE Sensex rose 297.38 points to 35,162.48 and the 50-share NSE Nifty gained 72.30 points at 10,584.80.
Reliance Industries, ICICI Bank, HDFC, M&M, SBI, Adani Ports, Axis Bank, ONGC and TCS were leading contributors to Nifty's gains while HDFC Bank, Infosys, Indiabulls Housing, JSW Steel, Eicher Motors and Maruti Suzuki fell.
Nifty Midcap index gained 1.5 percent with strong advance:decline ratio of 3:1.
South Indian Bank, Federal Bank, Jet Airways, InterGlobe Aviation, MCX, SpiceJet, Escorts, Tata Elxsi and NIIT Technologies rallied 3-16 percent while Dewan Housing, Repco Home Finance, Motherson Sumi, Dish TV, Tata Communications, United Breweries and Castrol closed lower.
HEADLINES OF THE DAY
Federal Bank Q2 profit rises 0.9% hit by higher provisions; asset quality weakens.
Delta Corp jumps 8% on strong Q2; Emkay sees 68% upside.
HDFC Bank, L&T Infotech among top 5 momentum plays for 5-15% returns.
Results to be announced tomorrow :- Acc,Cyient,Havells india,Mindtree,NIITTECH,Reliance.
The crucial resistance for Nifty spot is now seen at 10650 and above this 10800 Support for the immediate term is now placed at 10400 next support will be 10210.
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