The domestic stock market staged an impressive comeback that helped the S&P BSE Sensex rally from a 208-point loss to log 161-point gain at 24,820 on Wednesday, thanks to a bounce in realty and capital goods stocks.
The market was trading in the red till mid-day on weak global cues as a fresh slump in crude prices dragged the US markets in overnight trade while a selloff in Chinese equities spooked stock markets globally this morning amid renewed concerns over the outlook for the Chinese Economy.
But the domestic benchmarks went on to make solid gains following strong cues from the European markets. The S&P BSE Sensex ended at 24,793.96, up 134.73 points or 0.55 per cent, extending its winning streak to the sixth day. The NSE's Nifty50 closed at 7,531.80, up 46.50 points or 0.62 per cent.
HEADLINES OF THE DAY
Crompton sells international T&D business for Euro 115 million
Maruti Suzuki launches compact SUV Vitara Brezza
HDFC in talks to acquire L&T General Insurance
The crucial resistance for Nifty SPOT is now seen at 7577 and above this 7634. Support for the immediate term is now placed at 7442 and next support will be 7380.
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