Markets opened gap down but gradually rose in intraday mainly due to rate sensitive stocks as Realty followed by Banks and Auto while Metal shares capped the gains, positive European markets also aided the sentiments to sustain the indices on higher side and close in green gaining 0.50%. Nifty future finally breached the 7500 mark and closed above it and now 7610 is seen as the next resistance while 7400 remains as major support from current levels.

TREND: SIDEWAYS:
SUPPORT : 7500 & 7460
RESISTANCE: 7580 & 7620

MARKET GOSSIPS:

  • Markets regained momentum; metals loose while rate sensitive stocks surge.
  • Crompton Greaves sold international T&D for 115 mn euros to Firt Reserve; stock up 9%.
  • Indian Bank receives nod from Board to raise Rs 11 bn via bonds.
  • Reliance Infra found approval of 12 Industrial licenses for Reliance defense from DIPP.
  • Unichem Labs receives ANDA approval for Quetiapine Fumarate tablets.

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