INDIAN BENCHMARKS: SENSEX ENDS UP NEAR 100 POINTS, NIFTY 50 TESTS 7500
The S&P BSE Sensex pared some of its gains after trading higher by nearly 200 points in morning trade on Friday as the European Central Bank (ECB) extended stimulus but warned that it was running out of room to cut interest rates.The euro zone central bank on Thursday cut deposit rate by 10 basis points to -0.4 per cent from -0.3 per cent and increased its monthly asset purchases volume to 80 billion from 60 billion earlier.The Nifty50 tested its crucial resistance level of 7,500 supported by gains in realty, oil & gas, metal, capital goods, and auto stocks.The broader market traded flat with the BSE midcap and small cap indices gaining 0.08 and 0.10 per cent, respectively.
HEADLINES OF THE DAY
CRISIL downgrades PSU Banks
Welspun Corp gains on order win for offshore project
United Spirits plans to sell 13 residential properties
The crucial resistance for Nifty SPOT is now seen at 7550 and above this 7634. Support for the immediate term is now placed at 7405 and next support will be 7380.
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