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Indian Share markets closed with substantial gains today and even lower than expected IIP numbers could not dampen investors' sentiments. Banking, realty, capital goods and auto were the biggest gainers in today's session and consumer durables, power and metal, too, made significant gains. Healthcare was the only sector that closed negative. The Sensex closed at 16863, up 195 points from its previous close, and the Nifty shut shop at 5116, up 62 points. The CNX Midcap index was up 0.9% while the BSE Smallcap index gained 0.3% in today's trade. The market breadth was positive with advances at 753 against declines of 659 on the NSE. The top Nifty gainers were Ambuja Cements, PNB, ACC and Tata Motors while the biggest losers included Wipro, Dr Reddy's, Ranbaxy and HUL.
SHARE MARKET TREND TOMORROW 13 June
Over the past week, Indian equities gained over 5% on hopes of a rate cut from the Reserve Bank of India on its monetary policy review on June 18.
While the street is still waiting for the inflation number out Thursday, as that will be the determining factor, experts have pegged their hope on a 50 basis point repo rate cut or 50-100 basis point cut in the cash reserve ratio come Monday.
Today’s dismal IIP number of 0.1% for April further cemented these expectations.
NIFTY LEVELS>>NIFTY SUPPORT AND RESISTANCE
Pivot Level = 5046.5333 , Support1 = 4966.8167, Support2 = 4817.7333, Support3 = 4738.0167, Resistance1 = 5195.6167, Resistance2 = 5275.3333 , Resistance3 = 5424.4167
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