Finally, a smart pullback rally for the markets. The Nifty rebounded from an intraday low of 5,720 to close above 5850. The Sensex too was not left behind - rallying over 337 points. The market witnessed volumes at nearly Rs 2 lakh crore. Suzlon, TCS, Tata Motors and Cairn were among the big winners today. The bank index rebounded sharply market breadth quite positive. November IIP growth comes in at a disappointing 2.7%; L&T, HCC and IVRCL remained subdued even as the market shrugged off the disappointment.
The bounceback from close to 5700 levels twice in two days is a clear sign that the level is a key support area in the near-term. Infosys is ready to report third quarter earnings, and the market would look to the IT major to lend it a forward thrust. All indications are that IndiaDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
