The market snapped its three-day losing streak and closed half a percent higher, but the broader markets staged smart show on strong breadth.
The 30-share BSE Sensex rallied 196.37 points to 36,063.81 and the Nifty50 gained 71 points at 10,863.50.
About three shares advanced for every share falling on the BSE.
IndusInd Bank, ICICI Bank, HDFC, L&T and Infosys were leading contributors while Bharti Airtel, Axis Bank, UPL and Bajaj Auto were under pressure.
Among broader space, TVS Motor Company, Jet Airways, NALCO, Union Bank, Vijaya Bank, SAIL, RCF, Wockhardt, Dish TV, Meghmani Organics and OBC rallied 4-11 percent.
Marico, Motherson Sumi and Havells India were under pressure.
HEADLINES OF THE DAY
Nifty Midcap index has bounced from long term 200 weeks EMA which was held on multiple occasions off 2008. Since its inception in 2004, corrective cycles in Nifty Mid cap and Small cap indices have not lasted for more than 14 months, which makes us believe both indices have approached maturity of price-wise and time-wise correction
NCC has received five new orders totaling to Rs 4,088 crore (exclusive of GST) in the month of February, 2019.
ABB India CY18 Earnings :- Profit grew by 12.73 percent year-on-year to Rs 254.2 crore and revenue increased 6.4 percent to Rs 6,690.12 crore in full year 2018.
The crucial resistance for Nifty spot is now seen at 10940 and above this 11120 Support for the immediate term is now placed at 10720 next support will be 10620.
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