Friday, September 7, 2018

Bulls regain momentum on D-Street, Sensex ends over 100 points higher; Nifty short of 11,600

A strengthening rupee also helped the market recover. Cooling off of oil prices and some reported dollar selling by private banks erased some losses for the currency.
Index heavyweights led the gainers’ chart as the likes of Reliance Industries, ICICI Bank and Mahindra & Mahindra pushed up benchmarks higher.
Banks were the major laggards through the day, the Nifty PSU bank index traded over a percent lower.
At the close of market hours, the Sensex ended up 147.01 points or 0.38% at 38389.82, while the Nifty was higher by 52.20 points or 0.45% at 11589.10. The market breadth is positive as 1,537 shares advanced, against a decline of 1,151 shares, while 195 shares were unchanged.
Airtel, Hero MotoCorp, and Bajaj Auto were the top gainers, while Yes Bank, Power Grid, and Sun Pharma lost the most.
Sun Pharma falls 5% on report of co getting 6 observations by US FDA for Halol unit.
Indian rupee at day's high around 71.74 per dollar.
Caplin Point Laboratories rises 4% post no observations from USFDA.

The crucial resistance for Nifty spot is now seen at 11620 and above this 11750 Support for the immediate term is now placed at 11450 next support will be 11280.

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Nifty trades above 11,600-mark; Sensex up ~150 pts

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