Bulls make a comeback and how! Sensex ends 180 pts higher, Nifty above 10,700.

capitalstars financial research pvt. ltd.

Bulls made a roaring comeback on a day that looked like a bearish day. A sharp recovery across sectors, particularly in the broader markets, helped the indices end sharply higher.
The Nifty clocked 10,700 again and ended above that mark.
Among sectors, maximum surge was seen among banks and infrastructure names, while IT and pharmaceuticals lost the most.
At the close of market hours, the Sensex closed up 179.79 points or 0.51% at 35649.94, while the Nifty was up 66.40 points or 0.62% at 10729.90. The market breadth was negative as 1089 shares advanced, against a decline of 1441 shares, while 155 shares were unchanged.
Airtel, Adani Ports, and Zee were the top gainers, while Sun Pharma and Yes Bank lost the most.

HEADLINES OF THE DAY

IL&FS appoints Retired IAS, Bijay Kumar as Deputy MD.
Bank of Japan Governor Haruhiko Kuroda warned of heightening global economic uncertainties but stressed that Japan's recovery had become resilient enough to fend off any external shocks.
National Fertilizers shares rallied 3 percent intraday after the company signed loan agreement with country's largest lender State Bank of India.
Autoline Industries shares rallied 8.8 percent intraday after the company decided to sell land & building in Chakan unit in Pune to reduce debt burden.

The crucial resistance for Nifty spot is now seen at 10820 and above this 10980 Support for the immediate term is now placed at 10610 next support will be 10480.

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