INDIAN BENCHMARKS: SENSEX ENDS FLAT AFTER A VOLATILE SESSION, NIFTY 50 CLOSES ABOVE 7200
Tracking mixed cues from European and other Asian markets, the domestic equity market ended a volatile week on a flat note.
The S&P BSE Sensex ended a choppy session with gains of 59.93 points or 0.25 per cent, at 23,709.15. The 50-share NSE Nifty Trading Tips 50 also managed to eke out gains to close at 7,210.75, up 19 points, or 0.26 per cent. Both, the bourses have climbed 3.31 and 3.15 per cent, respectively, in the week.
Banking shares gained for the second straight day, with public sector banks taking the lead. The government is likely to set up a "bad bank" to take over the non-performing assets.
HEADLINES OF THE DAY
- SBI issues 30,000 Basel III compliant Tier-II bonds; stk up
- Ultratech purchases two cement plants of JP Associates
- Bajaj Auto launches CT100B for Rs30, 990
The crucial resistance for Nifty SPOT is now seen at 7271 and above this 7324. Support for the immediate term is now placed at 7127 and next support will be 6980.
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