INDIAN BENCHMARKS: SENSEX ENDS 195 POINTS HIGHER RECLAIMS 26, 000, NIFTY 50 ABOVE 7900
The domestic equity market shrugged off weak global cues on Monday to notch up gains for the fourth time in seven sessions after the US Federal Reserve had hiked rates on December 16.
The S&P BSE Sensex closed the day higher by 195 points, or 0.76 per cent, at 26,034 while 50-stock barometer Nifty50 ended at 7,925, up 64 points, or 0.82 per cent. NTPC and Dr Reddy's Labs were the top gainers on the BSE benchmark.
The rally in domestic stocks was supported by a surge in banking, auto and pharma stocks, as investors rediscovered their risk appetite for the blue-chip stocks. Large caps such as Dr Reddy's, NTPC, ONGC and ICICI Bank climbed as much as 4 per cent during the session.
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The crucial resistance for Nifty SPOT is now seen at 7966 and above this 8003 Support for the immediate term is now placed at 7835 and next support will be 7775.
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