INDIAN BENCHMARKS: SENSEX RALLIES 130 POINTS, NIFTY 50 RECLAIMS 8200
A rough day turned impressive as the market smartly bounced back in the closing hours of Thursday's session to close with gains.
The S&P BSE Sensex and the broader Nifty50 opened flat. The benchmark indices traded with a negative bias for most part of the day.
Investors were cautious ahead of the crucial Opec meet in Vienna which is expected to not yield any surprises.
But, sentiments turned positive after the Met department said that it expects favorable conditions for advance of the monsoon towards the Bay of Bengal in the next two days.
The 51-share Nifty50 reclaimed the 8,200-mark to close at 8,218.95, up 39 points or 0.48 per cent. The BSE benchmark Sensex settled at 26,843.14, up 129.21 points or 0.48 per cent.
HEADLINES OF THE DAY
- Hero Motocorp: May 2016 Volumes growth at 2.3%
- Coal India gains on encouraging production
- Jyothy Labs surges; Henkel to buy 26% stake.
The crucial resistance for Nifty spot is now seen at 8252 and above this 8328. Support for the immediate term is now placed at 8134 and next support will be 8070.
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