INDIAN BENCHMARKS: Sensex closes 322 points higher, Nifty rises 1%, metal, pharma stocks shine,
BSE Sensex rose over 300 points to close above the 34,000 mark on Friday. NSE’s Nifty 50 ended over 1% higher on positive beginning of March derivative series and gains in Asian equities. All the sectoral indices on BSE closed higher led by metal, basic materials, healthcare and telecom. Outperforming the Sensex, BSE MidCap and SmallCap gained 1.47% and 1.54%, respectively. Tata Steel, Sun Pharma and Yes Bank were top gainers, whereas Asian Paints, Coal India and Infosys were among the major losers. Friday’s gains came as relief in Indian stock market, which had been under pressure this month following a disappointing budget and a Rs11,400 crore PNB fraud.
HEADLINES OF THE DAY
USFDA completes inspection at Sun Pharma facility in Gujarat
Sun Pharma shares gained 3.26% to Rs559.80 after the company said the USFDA has issued a Form 483 to the company with three observations after completing inspection at its Halol facility in Gujarat.
PNB data breach: 10,000 debit, credit cards info compromised
Punjab National Bank shares trade 0.65% lower at Rs113.90 following reports that as many as 10,000 debit and credit card accounts of the bank were compromised in a data breach.
The crucial resistance for Nifty spot is now seen at 10550 and above this 10600. Support for the immediate term is now placed at 10420 next support will be 10350.
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