The sensex rallied for the third day today adding 197 points on heavy buying on realty companies and heavy buying in Reliance Industries.
The Nse index Nifty also ended higher by 45.65 points, The rally today was backed by Reliance Industries and Infosys following strengthening of dollar.
Reliance was up by 5.49 percent following reports that the company has reached agreement with fertilizer firms on sale of gas from its eastern offshore, Realty index was up by 6.32 per cent.
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Indian stocks markets started on good opening trade on the strong global cues and held their gains through out the day. However the Nifty was enable to cross the 2800 mark and ended at 2762.50 up by 28 points.
The BSE Sensex also ended in green with the gains of 80.50 points closed at 8902.56.
Today’s market rally was mainly on the back of good global cues, as the US markets ended higher and Asian markets also were trading higher. Even the European markets also opened in green.
In today markets share of banks, IT, and auto had good buying support. The auto stocks were up on the hope hat the demand for the CV will get boost after the CV makers announced the rate cut to the tunes of Rs.16000. The rate cut was announced after the government had announced excise duty cut on Tuesday.
Top gainer of the markets today is: M&M up by 7.20% closed at 317.20, Tata Motors ended 6.06% higher closed at 140.10, and NALCO up by 4.18%
Top losers of the markets today is: Ranbaxy down by 3.60%, ABB down by 2.96% and HDFC down by 2.86%
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On the last trading session before a long weekend the Indian stock markets ended on lower note. The NSE CNX Nifty50 closed at 2736.45 down by almost 2% or 52 points.
The BSE Sensex closed at 8843 down by 199 points, but the Nifty and Sensex both closed above theirs support levels. Nifty did slip below its critical support level of 2750 but managed to end above 2700 mark. BSE Sensex closed at 8843 above support level of 8800.
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Indian stock markets opened on week note on global cues, the NSE Nifty opened almost 30 points down but recovered to higher levels,
Nifty traded in the range of 2736-2806 through out the trading session and closed at 2776 down by just 5.65 points. The NSE Nifty has been trading with the resistance at 2810-2830 has tested 2806 and fell from that levels.
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