Sensex ends six-day losing run, up 30 pts
Traders said the domestic stock market was also helped by firming Asian trends and higher opening in Europe on reports that US President Barack Obama has signalled confidence of striking a deal with US Congress on a new budget.
Kishor P Ostwal, CMD, CNI Research Ltd said: "After so many weak sessions, bulls fought back and Sensex closed higher. Nifty support is at 5540 and resistance at 5650. Above 5650, we can see sharp short covering as market is in oversold state."
Asian stocks, excepting Taiwan, ended with gains between 0.11-1.43 per cent. European markets were quoting mixed with downward bias.
Germany's DAX was down 0.20 per cent and the UK's FTSE by 0.45 per cent while France's CAC was marginally up.
Back home, major gainers from the Sensex pack were Maruti Suzuki (3.87 pc), Bharti Airtel (2.89 pc), Bajaj Auto (2.23 pc), M&M (1.60 pc) Hero Motocorp (1.37 pc) and NTPC (1.11 pc).
"Later in the week attention will shift to the Winter Session of Parliament which begins on November 22," said Amar Ambani, Head of Research, IIFL.
However, Tata Power dropped by 2.52 per cent, followed by TCS (1.90 pc), Tata Steel (1.61 pc), HDFC (1.23 pc), L&T (1.22 pc), Gail India (1.18 pc), Dr Reddy's Lab (1.09 pc) and Hindalco (1.01 pc).
Be the first to comment.