Sensex gains 150 pts and recovers 27k-mark, Nifty50 cracks to reclaim 8,300-level

BT Online   New Delhi     Last Updated: January 11, 2017  | 10:14 IST
Sensex gains 150 pts and recovers 27k-mark, Nifty50 cracks to reclaim 8,300-level

The Indian market opened on a high note over positive Asian cues and on the back of auto and metal shares.

The Asian markets was trading on a two-month high as investors were on the edge watching for President-elect Donald Trump's news conference later in the day for any clues to his policies on tax, fiscal spending, international trade and currencies.

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At 9.25 AM, the S&P BSE Sensex was trading 27,044, gaining 144 points while the Nifty50 was trading at 8,335, up 46 points.

The Nifty cracked its crucial psychological level of 8,300.

"We continue with our optimistic view on the market and expect a breakout beyond the immediate resistance of 8306.85," said an Angel Broking report.

"Traders are advised to keep focusing on individual stocks with a positive bias which are likely to provide potential trading opportunities," the report added.

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While the Sensex and Nifty reclaim their crucial levels, Deutsche Bank report forecasts Indian equity markets to move in a narrow range during the year while the benchmark Sensex to touch 29,000 by the end of 2017.

The 30-share index were trading largely in green with Tata Steel gaining over 4 per cent as the top gainer.

Asian Market

China's Shanghai Composite dipped 16 points while the Hang Seng Index and Japan's Nikkei gained 154 and 69 points respectively.

The Nikkei ticked up 0.4 percent, snapping three days of losses.



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