Markets trim gains, Nifty hovers around 7,900; ITC, Sun Pharma weak
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Benchmark indices continued to trade firm in noon deals on Friday with IT majors Infosys, TCS and Wipro leading the gains.
At 12:25 pm, the Sensex is up 157 points at 25,999 and the Nifty has gained 46 points to trade at 7,889. Broader markets are trading in line with the benchmark indices- BSE Midcap and Smallcap indices are up almost 1%.
According to Molilal Oswal market outlook for today, “Immediate support at 7,700 has been defended well as Nifty saw a swift up-move & regained 7,800. The convergence with the trigger line in momentum indicator suggests that there could be a temporary pullback before any major fall. A break above 7,870 would unfold the pullback move & propel Nifty towards 8,080.”
The report further adds, “Looks like the band of 8,000 & 7,700 could be held for the rest of the days of expiry. Drop in India VIX indicates there more chances of index moving into this range.”
From the Sensex 30 pack, GAIL is the top gainer, up almost 9%.
Other Latest News
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