INDIAN BENCHMARKS: SENSEX RALLIES OVER 350 POINTS, NIFTY 50 RECLAIMS 7450.
The S&P BSE Sensex surged over 350 points in Thursday's trade, led by gains in Infosys, HDFC, RIL, HDFC Bank, and Tata Motors.
The Nifty50 reclaimed its crucial level of 7,450 supported by gains in IT, metal, auto, oil & gas, and power stocks. The broader market traded in line with benchmark indices with the BSE midcap and small cap indices rising 0.40 and 0.34 per cent, respectively.
Meanwhile, shares of Tata Steel surged over 3 per cent in early trade.
Extending its recent rise, the rupee appreciated 15 paisa to 67.39 against the US dollar in early trade on Thursday, tracking positive trading in most Asian market currencies. The domestic currency had closed at 67.54 against the greenback in the preceding session.
HEADLINES OF THE DAY
Indiabulls Housing Fin to raise Rs400 cr on Private Placement basis
Tata Steel rallies on nod for Rs1, 877 cr expansion project
Tata Motors spurts on robust JLR Feb 2016 US Retail volumes
The crucial resistance for Nifty SPOT is now seen at 7510 and above this 7600. Support for the immediate term is now placed at 7363 and next support will be 7275.
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