Key indices advanced for third straight trading sessions on Wednesday. After a shaky start, the equity benchmarks turned volatile and hit the day’s low by noon. The indices, however, bounced back and ended near the high point of the day. The Nifty managed to close slightly above the 12,000 level. The sentiment got a boost after India’s Services PMI in January rose at quickest rates in seven years. Investors, however, remained cautious ahead of the Reserve Bank of India (RBI)’s policy outcome tomorrow.
Britain’s Metro Bank has hired a law firm to help it investigate payments routed through the bank that breached U.S. sanctions, a regulatory filing showed.European shares retreated from recent gains on Wednesday as concerns over the virus outbreak in China persisted, while markets also waited for service-sector activity data from the bloc.The pan-European STOXX 600 (STOXX) index fell 0.2%.
Nifty50 closed higher at 12089.15 level,+109.50 points, or +0.91 per cent. Nifty Support : 12000 and 11930 Resistance : 12150 and 12250. We recommend Buy on dip, Nifty Target 12160 and 12220 with strict stoploss below 12000.
