INDIAN BENCHMARKS: SENSEX SURGES OVER 600 POINTS, NIFTY 50 ABOVE 7150, TATASTEEL UP 10%
The benchmark indices climbed over 600 points in trade on Monday after the Chinese central bank PBoC allayed some fears over depreciating yuan by setting its fixing at a one-month high.
The 50-share Nifty50 was also trading above its crucial psychological level of 7,150 supported by gains in banking, auto, metals and pharma stocks. The broader markets traded in line with the benchmark indices with the BSE midcap and BSE small cap indices trading higher by 2.66 and 3.04 per cent respectively.
UPCOMING RESULTS: CASTROLINDIA
HEADLINES OF THE DAY
NMDC Q3 profit drops by 59% to Rs655 crore
FM indicates reforms push in PSU Banks
UCO Bank Q3: Net Loss at Rs1, 497 Cr Vs Profit of Rs303.6 Cr (YoY)
The crucial resistance for Nifty SPOT is now seen at 7228 and above this 7350. Support for the immediate term is now placed at 7035 and next support will be 6959.
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