Equity benchmarks saw consolidation for third consecutive session Thursday as investors, after pricing in Union Budget and RBI's neutral policy stance, shifted their focus back to Q3 earnings and global cues. Factory data for the month of December, due Friday evening, will also be closely watched.
The Sensex closed up 39.78 points at 28329.70 and the Nifty gained 9.35 points at 8778.40, aided by technology stocks. There were 793 advances, 845 declines and 273 unchanged stocks on NSE, reflecting mixed feelings floating in the market.The Rupee closed higher by 26 paise at 66.93 per Dollar.
BSE Mid-cap index closed at 13506.61 levels, up by 31.63 points or 0.23%. BSE Small-cap index closed at 13582.89 levels, up by 25.29 points or 0.19%.
Experts expect consolidation to continue but don't see major correction in near term. After more or less stable earnings from banks, the market will closely watch third quarter earnings of SBI & Bank of Baroda, country's largest public sector lenders, on Friday.
Nifty Trading Tips For Tomorrow
Buy CESC
Future above 831.5 Targets
835, 838.5
, 842 Stop loss 824.5
Sell UNION BANK Future below 147.3 TARGETS 146.3, 145.3 , 144.3 Stop loss 149.3
Sell UNION BANK Future below 147.3 TARGETS 146.3, 145.3 , 144.3 Stop loss 149.3
