INDIAN BENCHMARKS: SENSEX RECLAIMS 27000, NIFTY 50 HITS 8300
It has taken just four sessions for the market to shrug off the Brexit blues and return to normal.The benchmark equity indices continued their winning streak and hit their fresh 2016 high on Thursday. The S&P BSE Sensex rose above the 27,000 level, helped by a 300-point rally, while the 50-share NSE barometer Nifty50 hit 8,300 for the first time since October 26, 2015, with a 100-point surge.
Equity benchmarks extended rally further on Thursday, the NSE F&O expiry day. The Sensex was up 259.33 points or 0.97 percent at 26999.72 and the Nifty up 83.75 points or 1.02 percent at 8287.75. The broader markets also gained 1 percent. About 1605 shares advanced against 1010 declining shares on the Bombay Stock Exchange.TCS, Tata Motors, ICICI Bank, Axis Bank and HDFC Bank were top five contributors to Sensex's gains.
HEADLINES OF THE DAY
Torrent Pharma gains on acquiring Mfg Unit of Glochem Industries.
Coal India subsidiary MCL plans to open two Greenfield mines.
Indiabulls Real Estate raises Rs75 crore via NCDs.
The crucial resistance for Nifty spot is now seen at 8338 and above this 8450. Support for the immediate term is now placed at 8232 and next support will be 8174..