Wednesday, February 17, 2016

Late rally lifts Sensex 190 points, Nifty50 tops 7,100

"BUY WIPRO ABOVE 531 TGT 536/545" 
Buying in the last hour of trade amid firm European markets helped domestic benchmark indices  Sensex and  Nifty to close the day in positive zone in a volatile trading session. The Sensex opened at 23,237, touched an intra-day high of 23,434 and low of 22,924. It finally ended with a gain of 190 points at 23, 382.The Nifty opened at 7,059 hitting a high of 7,117 and low of 6,961, before ending with a gain of 60 points at 7,108.Asian markets ended mostly lower on Wednesday after two sessions of solid gains, while oil prices swung higher as the market reconsidered the chances of a meaningful deal to restrict supply later in the year. Japanese stocks fell in choppy trade as the yen broke from its fragile weakening trend against the US dollar after a rebound in crude oil prices fizzled and revived demand for the safe-haven Japanese currency.
 Chinese shares hit a fresh three-week high, as demand for infrastructure shares helped the market maintain a rebound fuelled by economic stimulus hopes after media reports suggested that the National Development and Reform Commission plans to offer 400 billion Yuan ($61 billion) this quarter to fund local government’s infrastructure projects.

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