Indian equity benchmarks remained in a positive terrain for the third consecutive session, with the Nifty holding above the 5500 mark though there was a bit of profit booking at higher levels. Heavyweights like TCS, BHEL, Wipro, ICICI Bank and L&T were leading the market higher, with rising 1.5-2.5%; where value buying could be the reason.
The 50-share NSE Nifty was trading in a tight range of 5505 - 5528 at higher levels; gained 37 points at 5,517 at 12:11 hours. Market veteran Vibhav Kapoor of IL&FS believes the Nifty will continue to trade between 5,200 and 5,600.
"The market continues to stay in that broader range of 5,150 on downside and maybe 5,700-5,750 on the upside and I would expect that range to continue for quite some more time. You would need further negative news on the economy, oil prices and interest rates going up further, inflation not coming under control, de-rating of earnings for FY12, to cause the Nifty to go below 5,200," he said.
The 30-share BSE Sensex went up 134 points to 18,340 followed by the broader indices, with rising around 0.5-0.8%. About 1598 shares advanced as against 1007 shares declined on the Bombay Stock Exchange.
The 50-share NSE Nifty was trading in a tight range of 5505 - 5528 at higher levels; gained 37 points at 5,517 at 12:11 hours. Market veteran Vibhav Kapoor of IL&FS believes the Nifty will continue to trade between 5,200 and 5,600.
"The market continues to stay in that broader range of 5,150 on downside and maybe 5,700-5,750 on the upside and I would expect that range to continue for quite some more time. You would need further negative news on the economy, oil prices and interest rates going up further, inflation not coming under control, de-rating of earnings for FY12, to cause the Nifty to go below 5,200," he said.
The 30-share BSE Sensex went up 134 points to 18,340 followed by the broader indices, with rising around 0.5-0.8%. About 1598 shares advanced as against 1007 shares declined on the Bombay Stock Exchange.
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