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    HomeNewsBusinessMarketsNifty ends above 5500 on rebound in Asia

    Nifty ends above 5500 on rebound in Asia

    Indian equity benchmarks rebounded on Wednesday led by short covering after a sharp sell-off seen in previous session on earthquake in Japan. The 50-share NSE Nifty clawed back above the 5500 level, with 62 points gains to close at 5,511, supported by 44 stocks out of 50.

    March 16, 2011 / 17:15 IST

    Indian shares rebounded on Wednesday led by short covering and a sharp recovery in Asian markets after yesterday's selloff. The 50-share NSE Nifty clawed back above the 5500 level, gaining 62 points to close at 5,511, supported by 43 stocks out of the 50. But there was some profit booking in late trade, attributable to rising crude oil prices, and continuing tension in the Middle East.

    Laurence Balanco of CLSA said the Nifty is witnessing a strong basing pattern below 5566.
    first published: Mar 16, 2011 04:05 pm

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