Indian equity benchmarks closed the session on a positive note on Friday, supported by short covering in most beaten-down stocks in the previous three sessions. Overall, it was a day of consolidation for the markets, which could be waiting for the Union Budget scheduled for Monday, February 28.
For the time being, the correction seems to be done, says Ambreesh Baliga of Karvy Stock Broking. The benchmarks had crashed 3% yesterday.
He says, yesterday the Nifty held on to the 5,200-5,250 level.
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