INDIAN BENCHMARKS: NIFTY ENDS ABOVE 7850, SENSEX FLAT
The domestic equity market saw a tepid reaction to the 7th Central Pay Commission report on Thursday, as investors tried to gauge the full implications of the same. Skittish trade witnessed in European and other Asian markets also weighed on investor sentiment.
The S&P BSE Sensex rallied as many as 217 points in intraday trade, but pared most of the gains in last hour of trade to close at 25,868, up 0.10 per cent, or 27 points. The 50-stock barometer Nifty50 gained 14 points, or 0.18 per cent, at 7,856. Gail and Wipro were the top gainers on the BSE benchmark. The index ended the week with gains for the first time in four; Sensex gains 257 points, or 1 per cent while Nifty was up 94 points, or 1.21 per cent.
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The crucial resistance for Nifty is now seen at 7890 and above this 7945. Support for the immediate term is now placed at 7797 and next support will be 7730.
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