INDIAN BENCHMARKS: SENSEX RALLIES OVER 150 POINTS, NIFTY HITS 8500
The S&P BSE Sensex surged over 150 points on positive global cues in Tuesday's trade led by gains in HDFC, ITC, HDFC Bank, Axis Bank, ICICI Bank, and Tata Motors.
Asian stocks rose to a 2-1/2-month high a day after US markets hit a record high on upbeat US macroeconomic economic data and expectations of more stimulus from policymakers across the globe.
The Nifty50 reclaimed its crucial level of 8,500 supported by gains in realty, power, oil & gas, consumer durables, capital goods, banks, and auto stocks.
HEADLINES OF THE DAY
Macro Wrap: IIP, CPI to be released today.
Hindalco up after strong Q2 nos from Alcoa.
Igarashi drops as promoter sells 33 lakhs shares via OFS.
The crucial resistance for Nifty spot is now seen at 8560 and above this 8621. Support for the immediate term is now placed at 8467 and next support will be 8356.