The domestic equity market managed to eke out gains on Monday despite crude oil prices slumping about 3 per cent. The benchmark indices traded with solid gains throughout the session buoyed by a surge in other Asian markets before they were pegged back by weak cues from Europe.
The S&P BSE Sensex ended the day with gains of 50 points, or 0.21 per cent, at 24,485.95 while the 50-share NSE Nifty50 closed at 7,436, up 14 points, or 0.18 per cent. Tata Steel and Sun Pharma were the top gainers on the BSE benchmark.
The gains on the benchmark index were supported by heavy buying on the counters of HDFC Bank, Tata Steel, ICICI Bank and HUL. However, losses in L&T, Tata Motors and Hero MotoCorp capped the gains.
HEADLINES OF THE DAY
Mcleod Russel Q3 net profit down 29%
HDFC Bank Q3 profit meets estimates
Hero Motocorp drops as arm plans to sell stake
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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