Equity benchmarks retained its uptrend for the second consecutive session Tuesday, especially led by banks post Axis Bank merger talks and Reliance Industries after Reliance Jio tariff plans.
The 30-share BSE Sensex was up 100.01 points at 28761.59 and the 50-share NSE Nifty gained 28.65 points at 8907.85 but the market breadth was not that strong. About 1553 shares advanced against 1277 declining shares on the Bombay Stock Exchange. Axis Bank surged 5 percent after sources said that Kotak Mahindra Bank informally approached government seeking Axis Bank's hand.
HEADLINES OF THE DAY
Ambuja Cements Q3 consolidated net profit up 85% (YoY).
Granules India gains as IFC plans to invest $47.5 mn.
RECL jumps after signing MoU with JUSNL, JBVNL.
The crucial resistance for Nifty spot is now seen at 8920 and above this 8995 Support for the immediate term is now placed at 8830 and next support will be 8720.