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Sensex ends 209.80 points up
Benchmarks ended rangebound session near day’s highs as investors
bought stocks at lower levels after a sharp decline in past few
sessions. Positive cues from European markets also lifted sentiments.
opened on a firm note and gained momentum towards end of trade after a
rangebound session. The upmove was led by gains in technology, metals
and pharmaceutical stocks while oil&gas space ended with marginal
losses. According to analysts, market is expected to drift lower in
coming session and pull-back rally must be used to book profits.
"Market is rangebound with a downward bias and is flirting
with support levels. It will take cues from earnings season and other
global news for further direction. However, it can extend its range
towards lower levels. Nifty support is seen at
5400-5500 levels while resistance seen is at 6000 levels. Keep exiting
long positions in case of a pull-back rally,” said Miki Jain,
independent technical analyst.
Stock Exchange’s Nifty ended at 5724.05, up 69.30 points or 1.23 per
cent. The broader index touched a low of 5671.25 and high of 5730.50
Bombay Stock Exchange’s Sensex closed
at 19092.05, up 209.80 points or 1.11 per cent. The 30-share index
touched a low of 18933.47 and high of 19120.62 in trade so far.
BSE Midcap Index was up 0.45 per cent and BSE Smallcap Index moved 0.28 per cent higher.
the sectoral indices, BSE IT Index was up 2.60 per cent, BSE Metal
Index gained 2.31 per cent and BSE Healthcare Index moved 1.64 per cent
higher. BSE Oil&gas Index moved 0.12 per cent lower.
TCS (5.48%), Sterlite Industries (4.42%), Jindal Steel (3.06%), Wipro (2.79%) and Cipla (2.67%) were amongst the top Sensex gainers.
demand for outsourcing services boosted Tata Consultancy Services'
third quarter financial figures. The net profit increased 30% to Rs
2,370 crore during October-December 2010 compared to Rs 1,824 crore in
the same period a year ago, beating analysts' estimates. Revenue surged
26% to Rs 9,663 crore during the December quarter of FY11.
Reliance Infrastructure (-4.53%), Tata Power (-0.92%), Bharti Airtel (-0.89%), HDFC (-0.63%) and DLF (-0.62%) were the top losers.
Market breadth was positive on the BSE with 74 advances against 628 declines.
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